Gland Pharma IPO
Gland Pharma IPO — date, price band, lot size & details 2020
Gland Pharma listed on 20 Nov 2020 at ₹1,710, 14% above the ₹1,500 issue price.
Gland Pharma is a generic injectables company that sells mainly on a business to business model in over 60 countries, with the United States as its biggest market. Its total income was Rs 2,772.41 crore in FY2020.
Stock price
Gland Pharma is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 09 Nov 2020
- Close 11 Nov 2020
- Allotment 17 Nov 2020
- Refund/credit 18 Nov 2020
- Listing 20 Nov 2020
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 11 Nov, 2020 |
|---|---|
| Price Band | ₹1490 – ₹1500 |
| Face Value | ₹1 |
| Lot Size | 10 Shares |
| Issue Size | ₹6479.55 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 15,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 10 shares at the ₹1500 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 10 | ₹15,000 |
| Retail (max) | 13 | 130 | ₹1,95,000 |
| S-HNI (min) | 14 | 140 | ₹2,10,000 |
| S-HNI (max) | 66 | 660 | ₹9,90,000 |
| B-HNI (min) | 67 | 670 | ₹10,05,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,671.68 crore in FY2018 to Rs 2,772.41 crore in FY2020.
- 02Profit after tax rose from Rs 321.05 crore in FY2018 to Rs 772.86 crore in FY2020.
- 03EBITDA rose from Rs 584.08 crore in FY2018 to Rs 1,094.64 crore in FY2020.
- 04Total borrowing was just Rs 4.96 crore on 30 June 2020.
- 05It sells in over 60 countries and is backed by Shanghai Fosun Pharma, a global pharmaceutical company.
Risks · 5
- 01The United States gave 66.74% of revenue from operations in FY2020.
- 02Its top five customers gave 48.86% of revenue from operations in FY2020.
- 03Rs 5,229.55 crore of the Rs 6,479.55 crore issue went to the selling shareholders.
- 04Its promoter is a Chinese group that held 74.00% before the issue, so cross border rules can affect it.
- 05US FDA inspections and price erosion in US generics can hit sales, while India gave only 17.74% of FY2020 revenue.
Three years of numbers
All figures in ₹ crore, as reported in the Gland Pharma offer document.
| Metric | 30 Jun 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 4,691.27 | 4,086.04 | 3,523.55 | 2,929.47 |
| Total Income | 916.29 | 2,772.41 | 2,129.77 | 1,671.68 |
| Profit After Tax | 313.59 | 772.86 | 451.86 | 321.05 |
| EBITDA | 444.70 | 1,094.64 | 792.07 | 584.08 |
| NET Worth | 3,963.47 | 3,646.24 | 2,862.00 | 2,410.36 |
| Reserves and Surplus | 3,947.97 | 3,630.74 | 2,846.50 | 2,394.86 |
| Total Borrowing | 4.96 | 4.96 | 5.49 | 5.92 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹1,223.97 Cr of the issue is earmarked to named objects.
About the company
According to the IQVIA Report in its RHP, it was one of the fastest growing generic injectables focused companies by revenue in the United States from 2014 to 2019. It sells mainly on a B2B model in over 60 countries, including the United States, Europe, Canada, Australia and India.
It works across the injectables value chain, from contract development and own development to dossier filing, technology transfer and manufacturing. Its products cover sterile injectables, oncology and ophthalmics, with a focus on complex injectables.
The IPO was Rs 6,479.55 crore, with Rs 1,250.00 crore of fresh issue and Rs 5,229.55 crore of offer for sale by Fosun Singapore and other shareholders. The fresh money was for working capital, capital expenditure and general purposes.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Gland Pharma IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
37 issues handledBest listing: Happiest Minds Technologies (+110.8%). Weakest: Shriram Properties (-23.7%).
Haitong Securities India Pvt. Ltd
3 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: HDFC Life (+6.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Gland Pharma?
The current Grey Market Premium is ₹110, or 7% over the issue price.
What is the Gland Pharma IPO price band?
₹1490 to ₹1500, on a face value of ₹1.
When is the allotment?
The basis of allotment is 17 November 2020, with listing on 20 November 2020.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
