Gland Pharma raises 1944 crores from Anchor investors

Gland Pharma Ltd. raised Rs 1,944 crore prior to its initial public offering from anchor investors. The Hyderabad-based company, backed by China’s Fosun Pharma, develops, manufactures and markets complex injectables. Company has seven manufacturing facilities in India, with a capacity of roughly 750 million units. It’s presence in sterile injectables, oncology and ophthalmic segments, and specialize in advanced injectables as well as NCE-1s, First-to-File product and 505(b)(2) filings.

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

The Gland Pharma has also fixed a price of Rs 1,490-1,500 per share for its  Rs 6,500 crore initial public offer, which will be open for public subscription during November 9-11.

READ ALSO:  Cybersecurity firm Dragos raises $110 million in Series C Funding

The OFS consists of the sale of up to 1,93,68,686 shares by Fosun Pharma Industrial Pte., 1,00,47,435 shares by Gland Celsus Bio Chemicals Pvt., 35,73,014 shares by Empower Trust and 18,74,500 shares by Nilay Discretionary Trust.

The company sells its products primarily below a business-to-business model in over 60 countries as well as the North American nation, Canada, Australia and the Asian nation. It had 3,791 folks across its facilities in India as on March 31, 2020.

Leave a Reply