Gland Pharma raises Rs1,943.86cr from 70 anchor investors ahead of the IPO

Gland Pharma Limited allocates 12,959,089 equity shares at the upper price band of Rs 1500 per equity shares.

Gland Pharma Limited (the “Company’), one of the fastest-growing generic injectables-focused companies by revenue in the United States from 2014 to 2019 (Source: IQVIA Report), allotted 12,959,089 equity shares to 70 anchor investors and raised Rs 1943.86 crore ahead of the company’s proposed IPO at an upper price band of Rs 1500 per equity shares.

The Initial Public offering comprises a fresh issue aggregating up to Rs. 12,500 million (the “Fresh Issue”) and an offer for sale of up to 34,863,635 Equity Shares, including up to 19,368,686 Equity Shares by Fosun Pharma Industrial PTE. Ltd (“Promoter Selling Shareholder”) and up to 10,047,435 Equity Shares by Gland Celsus Bio Chemicals Private Limited, up to 3,573,014 Equity Shares by Empower Discretionary Trust, and up to 1,874,500 Equity Shares by Nilay Discretionary Trust (collectively, the “Other Selling Shareholders” and collectively with the Promoter Selling Shareholder are referred to as the “Selling Shareholders”, and such Equity Shares, the “Offered Shares”).

Bids can be made for a minimum of 10 Equity Shares and in multiples of 10 Equity Shares thereafter.

The Equity Shares offered pursuant to the Offer are proposed to be listed on BSE Limited and National Stock Exchange of India Limited (“NSE”). For the purpose of the Offer, NSE is the designated stock exchange.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Haitong Securities India Private Limited and Nomura Financial Advisory and Securities

(India) Private Limited are the Book Running Lead Managers to the Offer (“BRLMs”).