Gland Pharma IPO opens tomorrow

Gland Pharma IPO opens tomorrow: Check value band, parcel size;

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In front of IPO, Gland Pharma on Saturday raised Rs 1,944 crore from anchor speculators at the cost of Rs 1,500 for every value share. 

Hyderabad-based Gland Pharma Ltd (GLP), sponsored by Chinese firm Fosun Pharma, will dispatch its first sale of stock (IPO) from November 9-11 (Monday-Wednesday). The Rs 6,500 crore IPO has value band of Rs 1,490-1,500 for every offer. In front of IPO, Gland Pharma on Saturday raised Rs 1,944 crore from anchor financial specialists at the cost of Rs 1,500 for each value share. 

The anchor financial specialists incorporate the Government of Singapore, Nomura, Goldman Sachs, Morgan Stanley, SBI Mutual Fund, Axis Mutual Fund, SBI Life Insurance Co., Fidelity, ICICI Prudential Mutual Fund, HSBC Global Investment Funds, Small Cap World Fund and The Scottish Oriental Smaller Companies Trust PLC among others. 

Here’s a full detail of Gland Pharma IPO: 

New issue: The IPO involves the issuance of new offers worth up to Rs 1,250 crore. 

Offer available to be purchased: The proposal available to be purchased is up to 34,863,635 value shares by existing investors. Gland Pharma OFS incorporates offer of up to 1.94 crore shares by Fosun Pharma Industrial Pte Ltd, one crore shares by Gland Celsus Bio Chemicals Pvt Ltd, 35.73 lakh shares by Empower Discretionary Trust and 18.74 lakh shares by Nilay Discretionary Trust. 

Initial public offering Price: The value band for Gland Pharma IPO has been fixed at Rs 1,490-1,500 for each offer. 

Book directors: Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd, Haitong Securities India Pvt Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book running lead administrators to the IPO. 

Parcel size: Investors can buy into the IPO by wagering for a ton of 10 offers. Retail financial specialists can offer for a limit of 13 parcels. 

The premise of portion conclusion date: The finish of the assumption of assignment is likely by November 17, the initialization of discounts is expected by November 18, and credit of offers in the Demat account is expected by November 19. 

Gland Pharma IPO posting is destined to occur on November 20. The IPO will bring Rs 6,479.5 crore at the upper finish of the value band. This could most likely be the primary enormous Indian organization with a Chinese parent to go for public posting. 

About Gland Pharma: 

PVN Raju established the organization in 1978. The organization’s advertisers are Fosun Singapore and Shanghai Fosun Pharma. Fosun Pharma possesses a 74 per cent stake in the organization. Gland Pharma produces and markets complex injectables. It is one of the quickest developing in the fragment by income in the US from 2014 to 2019. The organization revealed revenue of Rs 2,772.4 crore in the March quarter of 2019-20, as against Rs 2,129.7 crore in the earlier year. 

GLP offers its items through a business-to-business (B2B) model above 60 nations over the globe (as of June 30, 2020), including US, Europe, Canada, Australia, and so on Gland Pharma has seven assembling offices in India, containing four completed definitions offices with a sum of 22 creation lines and three API offices. 

The organization intends to use the returns from the public proposal to meet its working capital prerequisites and for general corporate purposes.


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