The Abu Dhabi Investment Authority (ADIA) has become an important cornerstone investor in Akums Pharmaceuticals and Pharmaceutical Company in India, which officially launched its initial public offering (IPO) subscription on July 30th.
Akums Pharmaceuticals raised nearly INR 8.28 billion (approximately USD 103 million) in funding from institutional sources, including cornerstone investors, prior to its listing. Including BlackRock Smallcap World Fund、 Renowned investment institutions such as Abu Dhabi Investment Authority and HSBC Global have participated in cornerstone investments.
Anchor Investors are investors who are locked in by a prospective listed company to purchase its new shares before the official IPO.
According to a document from the Mumbai Stock Exchange, ADIA's total investment is 500 million rupees (approximately 6 million US dollars), with 736362 shares allocated, accounting for 6.03% of the cornerstone investment total.
Akums Pharmaceuticals allocated 12205912 shares to cornerstone investors on July 29th at a price of INR 679 per share. The public subscription for the company's IPO began on July 30th and will end on August 1st, with a price range of 646 to 679 rupees per share.
Akums is an Indian pharmaceutical contract customization research and development organization (CDMO) that provides comprehensive pharmaceutical products and services in India and overseas. In terms of revenue, production capacity, and customer service capabilities, the company is the industry leader in India, with a market share of 30% in the CDMO sector in the 2024 fiscal year.
It is worth noting that before ADIA's investment in Akums, it was also a member of a consortium led by European private equity giant EQT, bidding for Indian biopharmaceutical company BSV Group, with the bid price raised to $1.6 billion.