INSUBCONTINENT EXCLUSIVE:
The IPO will be open for the public on three days, viz
November 9 to November 11Gland Pharma has raised Rs 1,944 crore from 70 anchor investors ahead of its initial public offering (IPO),
scheduled to open for bidding on November 9
It allotted 12,959,089 shares to the anchor investors at a price of Rs 1,500 per share
"The IPO committee of the board...finalised allocation of 1,29,59,089 equity shares in aggregate, to anchor investors at the anchor investor
allocation price of Rs 1,500 per equity share", the company said in a regulatory filing to the stock exchanges.The anchor investors include
Government of Singapore, Nomura, Goldman Sachs, Morgan Stanley, SBI Mutual Fund, Axis Mutual Fund, SBI Life Insurance, Fidelity, ICICI
Prudential Mutual Fund and HSBC Global Investment Funds, among others.The IPO will be open for the public on three days, viz
November 9 to November 11, at the issue price of Rs 1,490-1,500 per share.The primary offering involves fresh issue of shares amounting to
up to Rs 1,250 crore and an offer for sale (OFS) of more than 3.4 crore shares
The OFS includes sale of up to 1.94 crore shares by Fosun Pharma Industrial Pte Ltd, 1 crore shares by Gland Celsus Bio Chemicals Pvt Ltd,
35.73 lakh shares by Empower Discretionary Trust and 18.74 lakh shares by Nilay Discretionary Trust.Gland Pharma IPO will be the first by an
Indian company, with Chinese parentage
It will also be the largest pharma IPO in the country
The pharma giant will raise Rs 6,479.54 crore through the primary market offering, at the higher end of the price band.Gland Pharma was
founded by P V N Raju in 1978
It manufactures complex injectables and sells in more than 60 countries, including the United States, Europe, Canada, Australia and
India.Fosun Pharma, a China-based company, holds majority 74 per cent stake in Gland Pharma.
