India's largest pharma IPO worth Rs 6,500 cr set to hit market next week

Fosun-owned Gland Pharma sets price band for its IPO at Rs 1,490-1,500 per share

Hyderabad-based Gland Pharma is set to launch its initial public offering (IPO) on November 9 to raise Rs 6,500 crore. One of the largest IPOs in the pharmaceutical sector in recent times, it will comprise a fresh issue of Rs 1,250 crore and an offer to sell up to 34.9 million shares. 

The price band has been fixed at Rs 1,490-1,500 per share for the issue that will close on November 11. The primary issue is to raise Rs 1,250 crore, which the company plans to utilise for funding incremental working capital requirements of the company and funding capital expenditure requirements. 

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