IPO of Gland Pharma - Angel Broking

Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd

Gland Pharma has received capital markets regulator Sebi's go-ahead to launch an initial public offer that includes fresh issue of shares worth up to Rs 1,250 crore. Apart from the fresh issue, there is an offer for sale (OFS) of a little over 3.4 crore shares as part of the initial public offering. As per the market news this IPO can be of 5,000 crores of worth. The Hyderabad-based company, backed by China's Fosun Pharma, They also have an extensive track record in complex injectables development, manufacturing and marketing and a close understanding of the related sophisticated scientific, technical and regulatory processes. This is one of the first Indian pharma companies with a Chinese parent to go for public listing.

Source : Equity Bulls

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