Gland Pharma makes decent debut, shares end at 21% premium vs issue price

The Rs 6,480-crore IPO of Gland Pharma managed to sail through solely on the back of institutional investor demand.

Shares of Gland Pharma made a decent debut on the bourses on Friday. On BSE, the stock opened at Rs 1,701, 13 per cent higher against its issue price of Rs 1,500 per share. Later, it moved higher to Rs 1,850 in the intra-day trade before settling at Rs 1,820, a 21 per cent premium against the issue price. A combined 12.9 million shares changed hands on the counter on the National Stock Exchange (NSE) and BSE. In comparison, the S&P BSE Sensex was up 0.65 per cent at 43,882 points.

The Rs 6,480-crore initial public offering (IPO) of Gland