InvestorQ : How was the first day trading post listing of Gland Pharma?
Anamika Sodhani made post

How was the first day trading post listing of Gland Pharma?

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Angel dcosta answered.
2 weeks ago
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Hyderabad based Gland Pharma, subsidiary of Fosun Group of China, had a sterling listing at a 14% premium. Against the issue price of Rs.1500, Gland Pharma listed at Rs.1710 and bounced sharply after touching a low of Rs.1700 for the day.

The stock closed at Rs.1828 on Friday, a premium of 21.9% to the issue price of Rs.1500. That is extremely healthy considering the restricted oversubscription and the volatility in the grey market prices ahead of the listing.

Gland Pharma has vertically integrated injectables manufacturing capabilities and also boasts of a track record of growth and profitability. The IPO has raised Rs.6480 crore via IPO consisting of fresh issue of Rs.1250 crore and an OFS of Rs.5230 crore.

Gland Pharma injectables business saw revenue growth of 27% and net profit growth of 55%. During the Jun-20 quarter, Gland Pharma earned 67% top line from the US, 15% from India and the balance 18% from the rest of the world.

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