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Gland Pharma Issue Oversubscribed by 2.05 times

In Business
November 12, 2020

Rs 6480-crore issue is the largest in pharma industry. Gland Pharma raised Rs 1943.86 crore from Anchor Investors. Gland Pharma allocates 12,959,089 equity shares at the upper price band of Rs 1500 per equity shares to anchor investors. 70 marquee global and domestic funds came in as anchor investors. IPO price band fixed at Rs 1490 to Rs 1500 per equity share. Gland Pharma to raise Rs 6,480 crore through the IPO. IPO include Rs 1,250 crore fresh issue and the rest being Offer for Sale. Gland Pharma to use Rs 1,250 crore fresh funds for capital expenditure & working capital requirements. Gland Pharma is an integrated manufacturer of complex injectable products.