Gland Pharma raises Rs 1,943.86 crore from anchor investors

Of the 70 anchor investors, major investors that were allotted equity shares include Small Cap World Fund with 6.62 per cent of shares, Government Of Singapore with 5.32 per cent

Hyderabad: Hyderabad-based Gland Pharma Limited, generic injectables-focused company, allotted 12,959,089 equity shares to 70 anchor investors and raised Rs 1,943.86 crore ahead of the company’s proposed IPO at an upper price band of Rs 1,500 per equity shares.

Of the 70 anchor investors, major investors that were allotted equity shares include Small Cap World Fund with 6.62 per cent of shares, Government Of Singapore with 5.32 per cent, The Nomura Trust And Banking As The Trustee Of Nomura India Stock Mother Fund with 4.16 per cent, Goldman Sachs India with 3.31 per cent, and Axis Mutual Fund, Franklin Templeton Mutual Fund and SBI Mutual Fund each with 3.02 per cent of equity shares.

The Initial Public Offering comprises of a fresh issue aggregating up to Rs 1,250 crore and an offer for sale of up to 34,863,635 equity shares, including up to 19,368,686 equity shares by Fosun Pharma Industrial and up to 10,047,435 equity shares by Gland Celsus Bio Chemicals, up to 3,573,014 equity shares by Empower Discretionary Trust, and up to 1,874,500 equity shares by Nilay Discretionary Trust.

Bids can be made for a minimum of 10 equity shares and in multiples of 10 equity shares thereafter. The equity shares offered pursuant to the Offer are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. For the purpose of the Offer, NSE is the designated stock exchange.

Kotak Mahindra Capital, Citigroup Global Markets India, Haitong Securities India and Nomura Financial Advisory and Securities (India) are the Book Running Lead Managers to the Offer.

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