Gland Pharma has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) 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. The shares of the company are proposed to be listed on NSE and BSE.
The funds will be utilized for working capital, capital expenditure and general corporate purposes. The book running lead managers to the issue are Kotak Mahindra Capital Company, Citigroup Global Markets India, Haitong Securities India and Nomura Financial Advisory and Securities (India).
Gland Pharma develops, manufactures and markets complex injectables. The company sells its products primarily under a business-to-business model in over 60 countries, including the US, Canada, Australia and India.
Company Name | CMP |
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Sun Pharma Inds. | 1453.25 |
Dr. Reddys Lab | 5792.95 |
Cipla | 1459.85 |
Zydus Lifesciences | 1032.25 |
Lupin | 1583.95 |
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