With the pharmaceutical industry taking the front stage amidst the ongoing COVID-19 pandemic, Gland Pharma Limited is the latest pharmaceutical company to have filed a Draft Red Herring Prospectus (DRHP) with the SEBI. Here’s everything you need to know about the upcoming IPO from this company.
About the company
Based in Hyderabad, Gland Pharma is one of the leading manufacturers of injectable drugs. Its extensive product portfolio spans across multiple segments such as sterile injectables, oncology, and ophthalmic segments. The company was first established in 1978, and since then has grown tremendously.
With as many as 7 manufacturing facilities and more than 22 production lines, the maximum manufacturing capacity of Gland Pharma stands at around 750 million units. The products manufactured by the company are exported to over 60 countries worldwide (as of March 31, 2020).
Now, by offering its shares up for sale via a new IPO, the company seeks to raise some much-needed capital for funding its working capital and other capital expenditure requirements.
Details of the Gland Pharma IPO
Let’s take a look at some of the important details of the upcoming IPO from Gland Pharma, including the Gland Pharma IPO price, the Gland Pharma IPO date, and other relevant news.
Gland Pharma IPO date
The date of opening of the upcoming IPO from Gland Pharma has not yet been notified. That said, more clarity on the Gland Pharma IPO date can be expected once the company files the final Red Herring Prospectus with the SEBI.
Gland Pharma IPO issue size
The new IPO issue from Gland Pharma Limited consists of a fresh issue of shares as well as an Offer for Sale (OFS) from its promoters. The fresh issue component of this latest IPO is likely to net the company around Rs. 1,250 crores. Meanwhile, the promoters of the company, via the OFS route, are likely to offer around 34,863,635 equity shares of the company. The detailed breakup of the promoters and the quantum of shares being put up for sale are as follows.
- Fosun Pharma Industrial Pte. Ltd. - 19,368,686 equity shares
- Gland Celsus Bio Chemicals Private Limited - 10,047,435 equity shares
- Empower Discretionary Trust - 3,573,014 equity shares
- Nilay Discretionary Trust - 1,874,500 equity shares
Gland Pharma IPO price band
As with the Gland Pharma IPO date, the Gland Pharma IPO price band has also not been notified by the company. However, similar to most other upcoming IPOs, the Gland Pharma IPO price is also likely to command a significant premium over the face value of the company’s shares. As the date for filing the final Red Herring Prospectus nears, Gland Pharma is likely to announce the price band via a press release.
Gland Pharma IPO listing
The Gland Pharma IPO is slated to be listed on both the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE). In fact, the company has also received in-principle approvals from both the stock exchanges regarding the listing of its shares.
Now all you need, is an online demat account to invest in Gland Pharma IPO and make the most of your investments!
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