Akums Drugs and Pharmaceuticals, the largest India-focused CDMO, has set price band of Rs 646–679/share for its upcoming IPO. The company has blue chip and sticky clientele.
The Indian domestic CDMO market is forecasted to grow at a CAGR of 14.3% during FY24–28, nearly doubling its historical growth rate.
Akums seeks a P/E valuation of 28.7–30.2x, which seems to be reasonable compared with listed peers.
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