Gland Pharma IPO to open on Nov 9


Hyderabad: Hyderabad-based pharmaceuticals company Gland Pharma is launching its maiden initial public offer (IPO) on November 9 with an aim to raise Rs 6,479.54 crore.

The company sells its products primarily under a business to business model in over 60 countries as of June 30, 2020 including the United States, Europe, Canada, Australia, India and the rest of the world, will open the initial public offer of equity shares of face value of Re 1 each on November 9.

The offer will close on November 11. The price band of the offer has been fixed at Rs 1,490 to Rs 1,500 per Equity Share.

The Initial Public Offering comprises of a fresh issue aggregating up to Rs 1,250 crore million 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 and up to 10,047,435 Equity Shares by Gland Celsus Bio Chemicals, up to 3,573,014 Equity Shares by Empower Discretionary Trust, and up to 1,874,500 Equity Shares by Nilay Discretionary Trust.

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