NEW DELHI: The initial public offer (IPO) of Gland Pharma will open for subscription on Monday, during which the company will attempt to raise Rs 6,480 crore from the primary markets.
The drugmarker will likely announce the name of anchor investors by the end of Friday.
Many analysts said the company has a good growth path and you should subscribe to the issue.
Here are the key things to know about the issue.
- When does Gland Pharma IPO open?
Gland Pharma IPO will open for subscription on Monday, November 9 and will close on Wednesday, November 11.
- What is the price band for Gland Pharma IPO?
The price band for Gland Pharma IPO has been fixed at Rs 1,490-1,500 per share.
- What is the lot size for Gland Pharma IPO?
Investors can subscribe to the initial public offering (IPO) by betting for a lot of 10 shares or in multiples thereof. Retail investors can bid for a maximum of 13 lots.
- What is the issue size of Gland Pharma IPO?
Promoter Fosun Singapore is selling up to 15,494,949 shares and other shareholders and the company will sell up to 8,33,333 shares.
- What is the quota reserved for retail investors in Gland Pharma IPO?
The quota for retail investors in Gland Pharma IPO is fixed at 35 per cent of the net offer. QIB (including anchor) quota is fixed at 50 per cent while NII quota is at 15 per cent.
- When will the basis of allotment be out?
The finalisation of the basis of allotment is likely by November 17, 2020 and the initialisation of refunds is likely by November 18. Meanwhile, credit of shares in the demat account is likely by November 19.
- On what date will Gland Pharma IPO list?
Gland Pharma listing is likely by November 20.
- Where could we check Gland Pharma IPO allotment?
Those who would bid for the issue can check the subscription status on: https://linkintime.co.in/MIPO/IPO.aspx — the online portal of Link Intime India Private Limited, the registrar to the IPO. The registrar to an issue is a Sebi-registered entity, qualified to act as such, and which electronically processes all applications and carries out the allotment process as per the prospectus.
- What is the asking valuation for Gland Pharma IPO?
The offer is priced at price to earnings multiple of 18.52 times on annualized EPS of the quarter ended June 2020.
- Who are the leading book managers to the issue?
Citigroup Global Markets India, Haitong Securities India, Kotak Mahindra Capital Company, Nomura Financial Advisory And Securities (India).
- What does Gland Pharma do?
Gland Pharma produces generic injectables and sells those products primarily under a business to business model in over 60 countries. They have 7 manufacturing facilities in India, comprising 4 finished formulation facilities and 3 API facilities. The company has 267 ANDA filings comprising 191 ANDA filings for sterile injectables, 50 for oncology and 26 for ophthalmics related products, of which 215 have been approved.
- Who are the listed peers of Gland Pharma?
Gland Pharma said it has no listed companies in India that engage in a business similar to that of the company. However, Granules India and Natco Pharma are some of the names that can be counted as competitors.
- What is the business mix of Gland Pharma?
GPL has a successful track record of operating a B2B model with leading pharmaceutical companies. Around 62 per cent of revenues are derived from the USA. Among the next biggest markets in India are India (15 per cent), Europe (3 per cent), Canada (3 per cent) and rest of the world (17 per cent).
- Should you invest in Gland Pharma IPO?
GEPL Capitals has a ‘subscribe’ rating on the company. With a strong product pipeline and more complex products under development, focus on B2B expansion and licensing and opportunities to enter more therapy areas, the offer looks attractive, it said. “The company has a focus on complex injectables which has high entry barriers and strategic partnerships to penetrate new markets like China which can prove to be a lucrative opportunity for the company,” it added.