 "IPO")
Gland Pharma shares are in demand in the grey market. Ahead of its listing, the grey market premium (GMP) has soared from Rs 10 to Rs 140 a share — an indication that the stock could do well in the secondary market.
At the time of its initial public offering (IPO), however, there was hardly any demand. This discouraged many retail and high networth individuals (HNIs), who subsequently gave the IPO a miss. The retail and HNI portions were subscribed just 51 per cent and 24 per cent. The Rs 6,480-crore IPO managed to sail through solely on the back of
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