Gland Pharma, which recently concluded its Rs 6,480 crore-initial public offer (IPO) has finalised the basis of allotment of shares on November 17. The unblocking of funds from the ASBA account will start around November 18 and the shares will be credited to the account of eligible investors by November 19.
Shares of the company are proposed to be listed on BSE and NSE on November 20.
Those who had bid for the IPO of Gland Pharma can check the subscription status on the online portal of Link Intime, the registrar to the issue. Applicants can also check their allotment status on the BSE website.
Here are five easy steps to check your allotment status for Gland Pharma IPO
On Link Intime
- Go to the online portal of registrar Link Intime
-Click on the drop-down menu and select the company name as Gland Pharma in the drop-down menu
- Enter your Permanent Account Numbers (PAN) or application number or Client ID.
- After entering the given captcha code, investors can click on submit button and view their allotment status.
-Select Equity and then from the dropdown, select issue name- Gland Pharma.
-Enter your Permanent Account Numbers (PAN) or application number and click the Search button
The Rs 6,480-crore IPO (initial public offering) of Chinese-backed drug firm Gland Pharma that closed on November 11, was merely subscribed 2.06 times. Where qualified institutional buyers reserved portion saw 6.4 times subscription, retail investors portion was subscribed 24% and that of non-institutional investors 51%.
The IPO of the Hyderabad-based pharma major was a fresh issue of shares aggregating up to Rs 1,250 crore and an offer for sale of up to 3.49 crore shares by existing shareholders.
India's largest IPO in the pharmaceutical sector with Chinese parentage said it plans to utilize the proceeds from the public offer to meet the company's working capital requirements and for general corporate purposes, while the company will not receive any money from the offer for sale portion.
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 are the merchant bankers working on the issue.