Akums Drugs jumps 17% in debut trade

New Delhi: Shares of Akums Drugs and Pharmaceuticals Ltd on Tuesday ended with a premium of over 17 per cent against the issue price of Rs679. The stock made its debut at Rs725, up 6.77 per cent from the issue price on both the BSE and NSE. It later zoomed 17.44 per cent to settle at Rs797.45 on the BSE. At the NSE, shares of the company ended at Rs797.50, up 17.45 per cent.

The company’s market valuation (mcap) stood at Rs12,534.07 crore. In traded volume terms, 17.40 lakh shares of the firm were traded at the BSE and 234.71 lakh shares on the NSE during the day. The initial public offer of Akums Drugs and Pharmaceuticals received 63.56 times subscription on the closing day of the share sale on Thursday amid massive participation from institutional buyers. The Rs1,875-crore initial share sale had a price range of Rs646-679 per share.