Why retail, HNI investors may be regretting giving Gland Pharma IPO a miss

Gland Pharma, promoted by China's Fosun, has extended its gains, is up 40 per cent since its listing

Retail and high-networth individuals (HNIs) would be ruing giving China’s Fosun-promoted Gland Pharma’s initial public offering (IPO) a miss. The shares of the Hyderabad-based firm have gained 40 per cent over its IPO price of Rs 1,500.

On Monday, the stock rose 15 per cent to end at Rs 2,095. At one point, the stock was locked in 20 per cent upper circuit, with only buyers and no sellers in the counter. Some selling, however, emerged later. The stock got listed on Friday and ended the session at Rs 1,820, a gain of 21 per cent over its issue price.