Gland Pharma raises Rs 1943.86 cr from 70 anchor investors ahead of IPO

Hyderabad, Nov 7 (UNI) Hyderabad-based Gland Pharma Limited, one of the fastest growing generic injectables-focused companies by revenue in the United States from 2014 to 2019, allotted 12,959,089 equity shares to 70 anchor investors and raised Rs 1943.86 crore ahead of the company’s proposed IPO at an upper price band of Rs 1500 per equity shares.

Gland Pharma Limited, had earlier announced that its Initial Public Officer (IPO) will be open on November 9 to raise about Rs 6,500 crore.

The price band for the offer has been fixed at Rs 1,490-1,500 per share (face value of Rs one) and the issue will close on November 11.

The Initial Public offering comprises of a fresh issue aggregating up to Rs 12,500 million (the “Fresh Issue”) and an offer for sale of up to 34,863,635 Equity Shares, including up to 19,368,686 Equity Shares by Fosun Pharma Industrial PTE. Limited (“Promoter Selling Shareholder”) and up to 10,047,435 Equity Shares by Gland Celsus Bio Chemicals Private Limited, up to 3,573,014 Equity Shares by Empower Discretionary Trust, and up to 1,874,500 Equity Shares by Nilay Discretionary Trust (collectively, the “Other Selling Shareholders” and collectively with the Promoter Selling Shareholder are referred to as the “Selling Shareholders”, and such Equity Shares, the “Offered Shares”), the pharmaceutical company said in a release here on Saturday..

Bids can be made for a minimum of 10 Equity Shares and in multiples of 10 Equity Shares thereafter.

The Equity Shares offered pursuant to the offer are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Haitong Securities India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited were the Book Running Lead Managers to the offer, the release added.


Please enter your comment!
Please enter your name here