After a flurry of initial public offers in the last two months, November begins with yet another public issue. The latest one to hit the street is Gland Pharma. Here’s all you need to know about this IPO.
Issue opens: 9 November 2020
Issue closes: 11 November 2020
Price range: ₹1,490–1,500
IPO size: ₹6,479.5 crore
Lot size: 10
Gland Pharma Ltd is a Hyderabad-based pharmaceutical company specialising in injectables, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets. It operates primarily under a business to business (B2B) model and has a proven track record in the development, manufacturing and marketing of complex injectables. The company is promoted by Fosun Singapore Industrial Pte Ltd and Shanghai Fosun Pharmaceutical (Group) Co Ltd.
The IPO comprises a fresh issue of over 83 lakh equity shares aggregating up to ₹1,250 crore and an offer for sale of over 3.4 crore equity shares by the promoter companies and other selling shareholders (including Gland Celsus Bio Chemicals Pvt Ltd) aggregating to ₹5,229.5 crore. The proceeds from the issue will be used to fund incremental working capital requirements of the company.
We hope you found the above information useful. In case you wish to apply for this IPO on Upstox, click here.
Happy investing!
Disclaimer:
The above article is purely academic in nature and should not be construed as an opinion or advice to invest or trade.
Investments in the securities market are subject to market risks; please read all the related documents and/or consult your investment advisor before investing.
Past performance of an investment asset does not guarantee future returns.
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