Gland Pharma was incorporated on March 20, 1978. The company has expanded from liquid parenterals to cover other elements of the injectables value chain, including contract development, own development, dossier preparation and filing, technology transfer and manufacturing across a range of delivery systems
| Bidding Dates |
|---|
| 09 Nov 2020 - 11 Nov 2020 |
| Subscription |
|---|
| 2.06x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹15,000 | 1 | 13 | 10 | 43.2 M | ₹1490 - ₹1500 | 73.54 % | ₹64363.5 M - ₹64795.5 M | RHP DOC |
Gland Pharma IPO SUBSCRIPTION STATUS
11 Nov '20Gland Pharma IPO overall subscription rate was 2.06 times the total available shares
Gland Pharma IPO retail subscription rate was 0.24 times in the retail segment
Gland Pharma IPO non-institutional investor subscription rate was 0.51 times in the non-institutional investor category
Gland Pharma IPO Qualified Institutional Bidder subscription rate was 6.4 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
10 Nov 2020 (Day 2) | 0.15x | 0.03x | 0.48x |
11 Nov 2020 (Day 3) | 0.24x | 0.51x | 6.4x |
09 Nov 2020 (Day 1) | 0.08x | 0.01x | 0x |
Gland Pharma FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| 3MFY21 | 3,135.9 | 8,842.1 | 2,931.3 | 2,376.7 |
| 3MFY20 | 1,837.7 | 6,744.6 | 883.0 | 651.1 |
| FY20 | 7,728.6 | 26,332.4 | 7,009.4 | 5,301.6 |
| FY19 | 4,518.6 | 20,442.0 | 1,852.6 | 500.6 |
| FY18 | 3,210.5 | 16,228.9 | 2,021.1 | 1,171.0 |
Gland Pharma IPO SUBSCRIPTION STATUS DETAILS
Gland Pharma had 43.2 M shares on offer
Gland Pharma IPO offer price was in the range ₹1490 - ₹1500
Gland Pharma IPO minimum Investment was ₹15000
Gland Pharma IPO issue size was ₹ 64363.5 M - ₹ 64795.5 M
Gland Pharma had a minimum lot size of 10 Shares per application
Gland Pharma NUMBER OF SHARES ON OFFER
Gland Pharma IPO IMPORTANT DATES
| Issue Open Date | 09 Nov 2020 |
| Issue close Date | 11 Nov 2020 |
| Allotment Date | 17 Nov 2020 |
| Refund Date | 18 Nov 2020 |
| Demat Account Credit Date | 19 Nov 2020 |
| Listing Date | 20 Nov 2020 |
| Listing on Exchange(s) | NSE and BSE |
| Gland Pharma Allotment Status | Exchange |
Gland Pharma IPO subscription opened on 09 Nov 2020, and closed on 11 Nov 2020
IPO allotment for Gland Pharma was finalized on Tuesday, 17 Nov 2020
IPO listing for Gland Pharma was on NSE and BSE on Friday, 20 Nov 2020
Gland Pharma IPO LISTING GAINS
| Issue Price (adjusted) | 1500.0 |
| Listing Open Price | 1710.0 |
| Listing Close Price | 1820.5 |
| Listing Gain% | 14.0% |
| Current Gain% | 77.2% |
Gland Pharma Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gland Pharma Ltd. | 2657.5 | 43392.4 | 42.7 | 0.9 | 6.8 | 9.9 | 8.2 | 6747 | 15.7 | 1027.3 | 47.1 | 62.3 | 47.1 |
| Sun Pharmaceutical Industries Ltd. | 1948.6 | 467534.4 | 38.7 | 2.3 | 7.8 | 13.7 | 10.6 | 60433.8 | 10.8 | 11479.4 | 5 | 50.4 | 16.6 |
| Divi's Laboratories Ltd. | 8282 | 219861.1 | 75.2 | 2.8 | 19.6 | 15.3 | 12.8 | 11067 | 14 | 2568 | 17.2 | 110.2 | 26.8 |
| Torrent Pharmaceuticals Ltd. | 4904.5 | 186551.4 | 85.5 | 9.6 | 11.9 | 25.8 | 4.9 | 13886.2 | 20.3 | 2163.4 | 13.2 | 57.3 | 8.9 |
| Cipla Ltd. | 1467.8 | 118576.7 | 35.2 | -0.9 | 4.2 | 11.3 | 9.1 | 29044.6 | 2.2 | 3879.2 | -26.4 | 41.7 | -37.5 |
| Zydus Lifesciences Ltd. | 1113.5 | 112044.2 | 22.2 | 2.3 | 4.1 | 18.6 | 9.6 | 27657.9 | 17.6 | 5040 | 11.4 | 50.1 | 9.6 |
Gland Pharma INFORMATION ON IPO ISSUE
About Gland Pharma
Gland Pharma was incorporated on March 20, 1978. The company has expanded from liquid parenterals to cover other elements of the injectables value chain, including contract development, own development, dossier preparation and filing, technology transfer and manufacturing across a range of delivery systems
Object of the Issue
- To finance the incremental working capital requirements of our Company
- To meet funding requirements for capital expenditure requirements
- To meet the general corporate purposes
Gland Pharma - PROMOTERS
| Name |
|---|
| Fosun Pharma Industrial |
| Shanghai Fosun Pharmaceutical (Group) |
Gland Pharma Book Running Lead Manager
Kotak Mahindra Capital Company Limited
glandpharma.ipo@kotak.com
Citigroup Global Markets India Private Limited
glandpharma.ipo@citi.com
Haitong Securities India Private Limited
gland.pharma.ipo@htisec.com
Nomura Financial Advisory and Securities (India) Private Limited
glandpharmaipo@nomura.com
Gland Pharma Registrar to the Offer
Link Intime India Private Limited
glandpharma.ipo@linkintime.co.in
Gland Pharma Strengths
Manufacturing capabilities
Extensive and vertically integrated injectables manufacturing capabilities with a consistent regulatory compliance track record
Business model
Diversified B2B-led model across markets, complemented by a targeted B2C model in India
Product portfolio
Extensive portfolio of complex products supported by internal R&D and regulatory capabilities.
Financial track record
Track record of growth and profitability from a diversified revenue base with healthy cash flows.
Experienced management
We have an experienced management and qualified team and are promoted by Shanghai Fosun Pharma
Gland Pharma Risks
Regulated industry
The industry in which the company operates is heavily regulated and the business activities of the company require various approvals, licenses, registrations and permissions.
Dependent on marketing partners
The company's success s is dependent on the business arrangements with the marketing partners and customers for the sale of the products
Dependent on key customers
The business is dependent on the sale of products to the key customers and in key markets, particularly the United States, Europe, Canada and Australia.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 5,229.6 crore, of 34,863,635 shares. It also consists of a fresh issue of Rs 1,250.0 crore.
The promoters of the company are Fosun Pharma Industrial and Shanghai Fosun Pharmaceutical (Group).
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 1490.0 - 1500.0.
The IPO application opens on Nov 09, 2020 and closes on Nov 11, 2020.
The minimum lot size for the IPO is 10. The maximum lot size for the IPO is 130.
For all category investors, the minimum application amount for this IPO is Rs. 15,000.0, the maximum value for this IPO is Rs 195,000.0.
This IPO will be allotted on Nov 17, 2020.
The refund will be credited to your account on Nov 18, 2020.
The allotted shares will be credited to your demat on Nov 19, 2020.
Gland Pharma Ltd.’s shares listed on the stock exchanges on Nov 20, 2020.