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Gland Pharma IPO likely to raise Rs 6,000-7,000 crore

The IPO comprises a fresh issue of up to Rs 1,250 crore and an offer for sale of up to 3,48,63,635 equity shares by promoters.

 

Hyderabad-based pharmaceutical company Gland Pharma has filed a draft red herring prospectus with capital market regulator Sebi for its proposed initial public offering on July 10.

The IPO comprises a fresh issue of up to Rs 1,250 crore and an offer for sale of up to 3,48,63,635 equity shares by promoters.

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

Gland Pharma has established a portfolio of products across various therapeutic segments such as anti-diabetic, anti-infectives, anti-malaria, anti-neoplastics, blood-related, cardiac, gastro-intestinal and hormones through a combination of delivery systems including liquid vials, lyophilized vials, pre-filled syringes, ampoules, bags and drops.

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