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Abu Dhabi Investment Authority (ADIA) is an anchor investor in India’s Akums Drugs and Pharmaceuticals.
The pharmaceuticals manufacturer has opened its IPO subscription today.
Akums Drugs has raised nearly INR 8.28 billion from anchor investors including BlackRock Emerging Frontiers Master Fund Limited, SBI Healthcare Opportunities Fund, SBI Conservative Hybrid Fund, Smallcap World Fund, DSP India Fund and IIFL Asset Management Limited.
ADIA has a total amount allocation of 500 million Indian rupees ($6 million), with 736,362 shares allocated, and an anchor investment portion of 6.03%, according to a filing on the Bombay Stock Exchange.
The pharmaceutical manufacturing company allocated 1,22,05,912 equity shares at INR 679 per share to its anchor investors on Monday, July 29.
Akums opened for public subscription on July 30 and will conclude on August 1 with a price band of INR 646 to INR 679 per share.
ICICI Securities Limited, Axis Capital Limited, Citigroup Global Market India Private Limited, and Ambit Private Limited are the book runners for the public issue.
ADIA’s investment in Akums comes weeks after the sovereign wealth fund was named as part of a consortium, which includes EQT, a European private equity major, in a race to buy Indian biopharmaceutical company BSV Group, according to a news report by Indian financial newspaper, Economic Times.
(Reporting by Bindu Rai, editing by Seban Scaria)
