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Gland Pharma share lists at 13% premium over issue price

Share of Gland Pharma opened at Rs 1,701 against the issue price of Rs 1,500 on BSE

twitter-logoBusinessToday.In | November 20, 2020 | Updated 10:43 IST
Gland Pharma share lists at 13% premium over issue price
The Hyderabad-based firm backed by Chinese firm Fosun Pharma launched its initial public offering (IPO) from November 9-11 (Monday-Wednesday)

Gland Pharma share made a strong debut on BSE today rising over 13% against the issue price. Share of Gland Pharma opened at Rs 1,701 against the issue price of Rs 1,500, logging gain of 13.4% on BSE. The pharma firm stock rose further up to 21.26% at Rs 1819 against issue price.

Market cap of the firm rose to 29,358 crore.

Total 1.79 lakh shares changed hands amounting to turnover of Rs 33.50 crore on BSE.

Against the debut price of Rs 1701, the share rose 6.93% to Rs 1819.

The Hyderabad-based firm backed by Chinese firm Fosun Pharma launched its initial public offering (IPO) from November 9-11 (Monday-Wednesday).

The IPO  worth Rs 6,500 crore had a price band of Rs 1,490-1,500 per share.

Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd, Haitong Securities India Pvt Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd were the book running lead managers to the IPO.

Gland Pharma on November 8 raised Rs 1,944 crore from anchor investors at the price of Rs 1,500 per equity share.

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The anchor investors include the Government of Singapore, Nomura, Goldman Sachs, Morgan Stanley, SBI Mutual Fund, Axis Mutual Fund, SBI Life Insurance Co., Fidelity, ICICI Prudential Mutual Fund, HSBC Global Investment Funds, Small Cap World Fund and The Scottish Oriental Smaller Companies Trust PLC among others.

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