InvestorQ : What are the IPO details of Gland Pharma?
Dhwani Mehta made post

What are the IPO details of Gland Pharma?

Juvina Maggie answered.
9 months ago

Fosun Singapore and Shanghai Fosun Pharma-promoted Gland Pharma have launched its IPO worth over Rs6,400 crore on November 9. The IPO consists of a fresh issue of Rs 1,250 crore and an offer for sale of 3,48,63,635 equity shares by the promoter and other selling shareholders. The company has fixed the price band for its offer at Rs 1,490-1,500 per share.

The offer for sale comprises 1,93,68,686 shares by promoter Fosun Pharma Industrial Pte, and 1,00,47,435 equity shares by Gland Celsus Bio Chemicals, 35,73,014 shares by Empower Discretionary Trust, and 18,74,500 by Nilay Discretionary Trust. The subscription for the IPO will close on November 11.

The proceeds from the fresh issue of shares will be utilized for working capital, capital expenditure, and general corporate purposes. The lot size is 10 which means that investors have to apply for multiples of 10 shares and in multiples thereafter. It is the largest IPO to date in the Indian pharma sector