As a prudent investor, you must remain vigilant about the upcoming IPOs (Initial Public Offerings). In what could be the biggest new IPO by a pharmaceutical company in the country, Hyderabad-based Gland Pharma Ltd, an injectable-centred drug maker has opened its three-day IPO on November 9. Gland Pharma Ltd IPO is backed by Chinese pharmaceutical company, Fosun Pharma. The company aims to garner Rs 6,480 through its latest IPO, while already raising Rs 1,944 crore through allocation of 1.3 crore equity shares, last week, through anchor investors. Here is a look at the Gland Pharma Ltd IPO details.
The Gland Pharma Ltd IPO date is from November 9 to November 11, 2020. While the issue closes, three days from today, Gland Pharma Ltd Share Price is being offered at a price band between Rs 1,490 to 1,500 per piece along with a minimum bid of 10 shares. While the face value is Rs 1 per share, the stocks will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Of the total funds being raised by the company, the pharmaceutical company will receive funds of Rs 1,250 crore, while the remaining funds - being raised by sale of more than 3.48 crore shares - will be received by the promoters and other shareholders.
Now let’s have a look at Gland Pharma Ltd shareholding pattern. At present, Sanghai Fosun via its subsidiary Fosun Pharma holds 74% stake in the company along with Gland Celsus, Empower Trust and others holding stakes of 13%, 5% and 6% respectively. After the latest IPO, Fosun Pharma’s stage will be reduced to 58%, while those of Gland Celsus will come down to 6%. Other shareholders and Empower Trust will hold stakes of 32% and 3% respectively.
Before making an investment decision, you must know about the company’s details. Gland Pharma Ltd was founded in Hyderabad in 1978, and the pharmaceutical company has businesses across 60 countries. The USA market contributes more than 60% to the injectable-centred pharmaceutical’s overall sales revenue. At present the company is primarily focused on sterile injectables, along with a presence in oncology and ophthalmics. It also has a total of 265 drug filings.
Market experts have provided a bullish perspective on the maiden IPO by Gland Pharma Ltd. This is because of the company’s robust fundamentals, like a sound balance sheet, healthy financial state, strong growth in revenue, minimal debt/equity ratio, sturdy product pipeline, secure business framework and absence of any peer competition. This along with the positive standpoint on Pharmaceutical stock investments in 2020 makes it among the frontrunners in the recommended list of subscriptions by experts.
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