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Gland Pharma's Rs 6,480-crore IPO gets 4% subscription on first day

On Friday, the company had allotted Rs 1,944 crore worth of shares to anchor investors

IPO
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Gland Pharma's IPO is one of the biggest pharma listings in the domestic markets

BS Reporter Thiruvananthapuram
Hyderabad-based Gland Pharma’s initial public offering (IPO) was subscribed 4 per cent on Monday, the first day of the issue. The offering has received bids for 1.1 million shares as against 30 million on offer. 

On Friday, the company had allotted Rs 1,944 crore worth of shares to anchor investors. 

China’s Fosun Pharma-promoted firm is looking to raise Rs 1,250 crore through the IPO by issuing new shares. 

The IPO also comprises of secondary share sale worth Rs 5,230 crore. The total IPO size is about Rs 6,480-crore, making it one of the biggest pharma IPO in the domestic market. 

The price band has

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