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Small Cap World Fund has bought 6.62% stake in the anchor investors who have invested money. After this the Government of Singapore bought 5.32%, Nomura Trust & Banking 4.16%, Goldman Sachs 3.31, Axis Mutual Fund 3.02%, Franklin Templeton Mutual Fund bought 3.02%
- The company issued 1.29 crore shares to 70 anchor investors at a value of Rs 1,500.
- There will be a new issue of Rs 1,250 crore while 3.48 crore shares will be sold in OFS
The largest Pharma Initial Public Offering (IPO) in the country, Gland Pharma has received Rs 1,943.86 crore before the IPO. The money has come from 70 anchor investors. In lieu of this, the company issued 1.29 crore shares. The stock was issued at an IPO fixed price of Rs 1,500.
IPO will open from 9 November
Let us know that the IPO is opening from November 9. The company has fixed a price of Rs 1,490 to 1,500. Gland Pharma is a company with injectable focus. Small Cap World Fund has bought 6.62% stake in the anchor investors who have invested money. This was followed by the Government of Singapore 5.32%, Nomura Trust & Banking 4.16%, Goldman Sachs 3.31, Axis Mutual Fund 3.02%, Franklin Templeton Mutual Fund bought 3.02%.
SBI Mutual Fund, Birla Mutual Fund also took stake
Similarly, SBI Mutual Fund, the largest fund house in the country, bought 3.02%, Aditya Birla Sun Life Mutual Fund bought 2.84%, ICICI Prudential Mutual Fund 2.84%, Nippon India Mutual Fund bought 2.84%. Kotak Mutual Fund bought 2.46%, Morgan Stanley India 2.27%, HSBC Global Investment 2.27%, Pioneer Investment bought 1.89%. Similarly, HDFC Life, Mirai Mutual Fund, Fidelity Fund, Canara Robeco, HSBC, Invesco and L&T Mutual Fund have bought stakes.
The company will raise Rs 6,479 crore from the IPO
The largest pharma sector issue in the country, Gland Pharma, will open on November 9 and close on November 11. The company will raise Rs 6,479 crore based on the IPO’s upper price i.e. Rs 1,500. The lead managers of the IPO are Citi, Nomura and Kotak Mahindra Bank.
China Of Companies Huh Promoter
Gland Pharma is originally promoted by Fosan Singapore and Shanghai Fosan Pharma. The issue will open for anchor investors on 6 November. The IPO will have a fresh issue of Rs 1,250 crore, while 3.48 crore shares will be sold through Offer for Sale (OFS). In the offer for sale, 1.93 crore shares will be sold by the promoter of the company Fosan Pharma, while one crore shares will be sold by Gland Cells Bio Chemical. Empower will sell 35.73 lakh shares while Nilayam Company will sell 18.74 lakh shares.
Eris Life Brought was from all big IPO
Actually Aris Life Sciences had brought the largest IPO of the pharma sector in the country so far. It raised Rs 1,741 crore through an IPO in 2017. Then in 2015, Alchem Lab raised 1,350 crore and in 2016, Laurus Lab raised Rs 1,350 crore. This is the first pharma company to be listed in the stock market after 2017. The company’s revenue was Rs 2,772 crore in March 2020 as compared to Rs 2,129.7 crore a year ago in March 2019.
The IPO (initial public offering) of Shanghai Pharma’s majority stake Gland Pharma received SEBI approval last week. This will be the first IPO of a company with majority stake in China.
Injectable The drugs To Makes is company
Explain that Gland Pharma is a company of Hyderabad. It manufactures injectable drugs. It is the largest IPO of recent times. The approval of SEBI comes at a time when the pharma sector in India is booming and the border dispute between India and China in East Ladakh deepened. Pharma stocks have given good returns in recent times. In such a situation, IPO of Gland Pharma can get better response.
three Years In Pharma company Of First IPO
Recently several IPOs have been launched but this year, no new pharma company has been listed in the market yet. The last IPO of the pharma company came in 2017. Aris Lifesciences brought in an IPO at that time. The Gland Pharma IPO will have both primary and secondary issues. Through this issue, China’s Fosun group and the company’s Indian founders will sell their stake. Most of the money received from this IPO will be used to meet investment and working capital requirements to increase the company’s Indian business.
1978 In Established Hui was company
Gland Pharma was founded in 1978 by PVN Raju. The company mainly produces generic injectable pharma products. Fosan, listed in Hong Kong, bought a 74% stake in Gland Pharma from private equity firm KKR in October 2017 with an investment of $ 1.09 billion.