Gland Pharma IPO Listing: Pharma company Gland Pharma’s IPO was listed on the stock market today. The issue is listed at a 13 percent premium. The issue price for the IPO was Rs 1500, which was listed on the BSE at Rs 1701 with an increase of Rs 201. Gland Pharma is by far the largest IPO brought by any pharma company. The size of this IPO was 6500 crores. So far, only 14 Indian companies have raised more than Rs 6,000 crore through IPOs.
After the listing in the stock market, the shares of Gland Pharma are seeing a boom. The stock rose more than 20 per cent in business to Rs 1820. At 10:09 am it was trading at a price of Rs 1807.
2.06 times was subscribed
Gland Pharma’s Rs 6500 crore Initial Public Offer (IPO) received good response from investors. This issue was subscribed 2.06 times, i.e. 2.06 times bids were received for it. Reserve passersons received 6.4 times bids for institutional buyers. For retail investors, Reserve Porson subscribed 24 per cent, while non-institutional investors’ share subscribed 51 per cent. The company had fixed a price of Rs 1490–1500 per share for this IPO.
Drug company’s largest IPO
The Rs 6,500 crore IPO of Gland Pharma is the largest IPO brought by any pharmaceutical company. Earlier, Aris Lifesciences raised Rs 1,741 crore from its IPO in 2017. So far, only 14 Indian companies have raised more than Rs 6,000 crore through IPOs. Gland Pharma is originally promoted by Fosan Singapore and Shanghai Fosan Pharma. Chinese company Fosan Pharma holds 74 percent stake in the company. Other investors of the company include Gland Cells (12.97 per cent), Empower (5.08 per cent) and Nilay (2.42 per cent).
What is the business of the company?
Gland Pharma manufactures injectable drugs. The company has a total of 1427 products. Further, many products have been approved. Gland Pharma achieved a revenue of Rs 2,772 crore during the last financial year as compared to Rs 2,129.7 crore in the previous financial year. The company’s profit in the financial year 2019-20 was Rs 772.8 crore as compared to Rs 451.8 crore in the previous financial year.
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