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Wednesday, December 1, 2021

IPO of Gland Pharma gets approval, will be first list of majority stake in China

Gland Pharma was founded in 1978 by PVN Raju. The company mainly produces generic injectable pharma products

It is being planned to launch the IPO of Gland Pharma in November, some share of new shares and some of the offer for sale for Rs 6000 crores.

The IPO (initial public offering) of Shanghai Pharma’s majority stake Gland Pharma has received SEBI approval. Through this, the company has set a target of raising 6 thousand crores. If this IPO comes, it will be the first IPO of a company with a majority stake in China. It is believed that this IPO will come next month.

IPO may pick up in next 3 to 6 months, many companies are ready to be listed, SEBI has approved dozens of companies

1,250 crore will be of fresh issue

Under this IPO, there can be a fresh issue of Rs 1,250 crore while an offer for sale (OFS) of Rs 4,750 crore can be placed. That is, the size of this issue can be 6000 crores. The lead managers of the IPO are Citi, Nomura and Kotak Mahindra Bank.

Company makes injectable drugs

Explain that Gland Pharma is a company of Hyderabad. It manufactures injectable drugs. It is the largest IPO of recent times. The approval of SEBI comes at a time when the pharma sector in India is booming and the border dispute between India and China in East Ladakh deepened. Pharma stocks have given good returns in recent times. In such a situation, IPO of Gland Pharma can get a better response.

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Pharma company’s first IPO in three years

Recently several IPOs have been launched but this year, no new pharma company has been listed in the market yet. The last IPO of the pharma company came in 2017. Aris Lifesciences brought in an IPO at that time. The Gland Pharma IPO will have both primary and secondary issues. Through this issue, China’s Fosun group and the company’s Indian founders will sell their stake. Most of the money received from this IPO will be used to meet investment and working capital requirements to increase the company’s Indian business.

The company was established in 1978

Gland Pharma was founded in 1978 by PVN Raju. The company mainly produces generic injectable pharma products. Fosun, listed in Hong Kong, bought a 74% stake in Gland Pharma from private equity firm KKR in October 2017 with an investment of $ 1.09 billion.

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