InvestorQ : What has been the response to the Gland Pharma IPO?
vaishnavi mhatre made post

What has been the response to the Gland Pharma IPO?

vidhya Laxmi answered.
8 months ago

Gland Pharma IPO was oversubscribed 1.88 times on the final day of subscription but the relatively tepid response was expected considering the massive size of the issue. The response was already quite weak in the first two days, but 1.88 overall is good enough.

Against the offer size of 3.02 crore shares, the IPO got subscription to the tune of 5.69 crore shares in total. The IPO is priced in the band of Rs.1490-Rs.1500. Gland Pharma has already raised Rs.1944 crore from anchor investors like GIC of Singapore and Goldman Sachs at the price of Rs.1500 per share.

Gland Pharma has a 42 year pedigree and is the largest pharma IPO to hit the Indian markets. Interestingly, it is also one of the first major IPO by an Indian pharma company with a Chinese parent. Fosun of China will also partially exit as part of the offer for sale.