On November 9 Gland Pharma IPO To Open , Price Fixed At ₹ 1,490-1,500 A Share

Gland Pharma IPO: the general public issue are going to be open for 3 days, from November 9 to Veterans’ Day , and therefore the shares are going to be offered within the price band at ₹ 1,490-1,500 per share.

the general public issue are going to be open for 3 days, from November 9 to Veterans’ Day . The Hyderabad-based company has fixed the general public issue within the price band at ₹ 1,490-1,500 per share.

Gland Pharma are going to be the primary big Indian company, with Chinese parentage, to travel public within the country.

The Gland Pharma public offer are going to be the most important pharma IPO within the country. It aims to boost ₹ 6,479.54 crore through the general public issue, at the upper end of the worth band. Eris Lifesciences, which raised ₹ 1,741 crore in 2017, was the most important pharma primary issue to hit Dalal Street so far . Other prominent pharma companies i.e. Alkem Labs and Laurus Labs raised ₹ 1,350 crore each in 2015 and 2016 respectively.

The IPO comprises fresh issue of shares amounting to up to ₹ 1,250 crore and a suggestion purchasable (OFS) of quite 3.4 crore shares.

The proceeds from the general public offer are going to be wont to meet the company’s capital requirements and for general corporate purposes.Gland Pharma was founded by P V N Raju within the year 1978.

Gland Pharma manufactures and markets complex injectables. it’s seven manufacturing facilities across India, comprising four finished formulations facilities with a complete of twenty-two production lines and three API facilities. Gland Pharma sells products in additional than 60 countries, including the us , Europe, Canada, Australia and India.

The primary market offering by Gland Pharma are going to be the 13th IPO in 2020. UTI Asset Management Company and Mazagon Dock Shipbuilders are among the main companies to list during the year.

Kotak Mahindra Capital Company, Citigroup Global Markets India, Haitong Securities India and Nomura Financial Advisory and Securities India are the book running lead managers to the difficulty .

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