Akums Drugs and Pharmaceuticals Ltd has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The initial share-sale is a combination of fresh issue of equity shares worth Rs 680 crore and an offer-for-sale (OFS) of 1.86 crore shares by promoters and an existing investor, according to the draft red herring prospectus (DRHP) filed on Saturday.
Those selling shares in the OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pte Ltd.
The company is looking to raise Rs 136 crore through a pre-IPO placement. If such placement is undertaken, then fresh issue size will be reduced. Proceeds from the fresh issue will be used to repay debt, fund working capital requirements of the company, pursue inorganic growth initiatives through acquisition and for general corporate purposes.
Founded in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of …
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Akums Drugs files IPO papers with Sebi to raise Rs 680 cr via fresh issue (11-02-2024)
Large-cap mutual funds infuse Rs 1,287 crore in Jan on profit booking (11-02-2024)
Investors flocked to large-cap oriented mutual funds with influx of Rs 1,287 crore in January, making it the highest fund infusion in 19 months, as a significant run-up in small and mid caps prompted them to book profit.
This is a huge turnaround following a net outflow of Rs 281 crore in December. Also, the quantum was 80 per cent higher than inflows of Rs 716 crore in January last year.
The latest inflow helped push the asset base of large-cap equity category by 26 per cent to Rs 3 lakh crore at January-end from Rs 2.38 lakh crore a year ago.
According to latest data by Association of Mutual Funds in India (Amfi), equity mutual funds focused on large-cap received inflow to the tune of Rs 1,287 crore in January. This was the highest level since July 2022, when the category saw an inflow of Rs 2,052 crore.
Given the significant run-up in small and mid caps, investors are booking some profits and rebalancing into large-caps, Kaustubh Belapurkar, Director – Manager Research at …
M-cap of four most valued firms jumps Rs 2.18 trn; LIC, SBI lead gainers (11-02-2024)
Four of the top-10 most valued firms together added Rs 2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers.
From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC) and SBI were the gainers. They collectively added Rs 2,18,598.29 crore in market capitalisation.
On the other hand, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever and ITC faced erosion from their valuation to the tune of Rs 1,06,631.39 crore.
Last week, the BSE benchmark declined by 490.14 points or 0.67 per cent.
Market valuation of LIC jumped Rs 86,146.47 crore to Rs 6,83,637.38 crore. The share price of LIC on Monday jumped nearly 6 per cent to hit the Rs 1,000 mark for the first time.
SBI added Rs 65,908.26 crore, taking its valuation to Rs 6,46,365.02 crore.
Market valuation of TCS climbed Rs 61,435.47 crore to Rs 15,12,743.31 crore and that of Reliance
Inflation, industrial production data to drive market trends: Analysts (11-02-2024)
Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said.
The last batch of the ongoing earnings calendar would trigger stock-specific action, traders said.
“This week, we have to deal with macroeconomic data on both the domestic and global front. Our IIP and retail inflation numbers will be released on February 12, while WPI will be released on February 14. The US CPI numbers will be released on February 13, while their retail sales numbers will be announced on February 15.
“Amid these numbers, the movement in US bond yields and the dollar index will be watched. Apart from this, movement of crude oil and flows from institutional investors will be other important factors. The last batch of Q3 earnings can lead to stock-specific movements,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
NHPC, SAIL, BHEL, Hindustan Copper, Mahindra & Mahindra,
FPIs on bullish stance; infuse over Rs 15,000 cr in debt market in Feb (11-02-2024)
Foreign Portfolio Investors (FPIs) continued their bullish stance on the country’s debt markets with a net infusion of over Rs 15,000 crore so far this month, on the back of inclusion of Indian government bonds in the JP Morgan Index along with relatively stable economy.
This followed a net investment of Rs 19,836 crore in January, making it the highest monthly inflow in more than six years. This was the highest inflow since June 2017, when they infused Rs 25,685 crore.
On the other hand, foreign investors pulled out more than Rs 3,000 crore from equities during the period under review. Before this, they withdrew a massive Rs 25,743 crore in January, data with the depositories showed.
“The main trigger for this divergent trend in equity and debt is the high valuation in the Indian equity market and the rising bond yields in the US,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Himanshu Srivastava, Associate Director – Manager Research, Morningstar
Cenlub Industries standalone net profit declines 31.07% in the December 2023 quarter (10-02-2024)
Sales rise 28.94% to Rs 20.14 crore
Veerhealth Care standalone net profit declines 42.42% in the December 2023 quarter (10-02-2024)
Sales rise 4.36% to Rs 2.87 crore
Parle Industries reports standalone net profit of Rs 0.06 crore in the December 2023 quarter (10-02-2024)
Reported sales nil
Jayant Agro Organics consolidated net profit rises 108.77% in the December 2023 quarter (10-02-2024)
Sales decline 18.32% to Rs 428.88 crore
SBEC Sugar reports consolidated net loss of Rs 2.19 crore in the December 2023 quarter (10-02-2024)
Sales decline 4.87% to Rs 144.10 crore