• Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
Wednesday, February 1, 2023
No Result
View All Result
SUBSCRIBE
The Outlooker
27 °c
Delhi
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
No Result
View All Result
The Outlooker
No Result
View All Result
  • National
  • Politics
  • Opinion
  • Business
  • Science
  • World
  • Health
Home Business

Gland Pharma shares list at 13% premium over IPO price; adds to gains minutes after debut

by The Outlooker Web Desk
November 20, 2020
in Business
0
Gland Pharma shares list at 13% premium over IPO price; adds to gains minutes after debut
1.8k
SHARES
12.9k
VIEWS
Share on FacebookShare on Twitter

The firm follows a vertical integration pattern which has helped it grow market share in key markets such as Europe, Canada and Australia, and the United States.

Gland Pharma shares made stock market debut at Rs 1,701 per share, up Rs 201 or 13.4% from the IPO issue price. Minutes after listing, the stock added gains and reached a high of Rs 1,796 per share. Gland Pharma’s initial public offering (IPO) was the largest ever public issue by a pharmaceutical firm in India. Backed by China’s Fosun Pharma, the firm met with a lacklustre response during the subscription period with only Qualified Institutional Buyers (QIB) oversubscribing their portion while retail investors and Non-Institutional Investors (NII) stayed away.

Check live price: Gland Pharma

At the higher price band of Rs 1,500 per share, Gland Pharma’s share is valued at a TTM P/E multiple of 31.7x, which is in-line with pharma industry P/E of 32.3x, according to brokerage firm Choice Broking. The firm follows a vertical integration pattern which has helped it grow market share in key markets such as the United States, Europe, Canada and Australia, and the United States. Majority of its revenue comes from exports rather than the domestic market. 

In the United States, Gland Pharma was the fastest growing generic injectables-focused company by revenue from 2014 to 2019. Its primary focus is on the B2B business model. Various analysts, ahead of the IPO, lauded Gland Pharma’s extensive and vertically integrated injectables manufacturing capabilities. Its excellent regulatory record has also been noticed. “GPL’s manufacturing facilities have established a consistent record of regulatory compliance with the USFDA highlighting its focus on quality assurance and quality control,” said HDFC Securities. 

Based out of Hyderabad, Gland Pharma was established in 1978 and is one of the largest and fastest growing injectable-focused B2B companies, with a global footprint. In 2017, China’s Fosun Pharma acquired a 74% stake in the firm for $1.09 billion. “With benefits of being an out and out integrated injectable/ophthal manufacturer and B2B functionary combined, Gland offers a compelling proposition with its unblemished regulatory track record and customer stickiness besides long-standing manufacturing pedigree, justifying premium valuation,” said ICICI Direct in an IPO note.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

The Outlooker is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

The Outlooker Web Desk

The Outlooker Web Desk

Next Post
CBI Starts Probe Against Wasim Rizvi, Ex-Chairman Of Uttar Pradesh Shia Waqf Board, In Illegal Land Case

CBI Starts Probe Against Wasim Rizvi, Ex-Chairman Of Uttar Pradesh Shia Waqf Board, In Illegal Land Case

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Drugs Worth Rs 2.68 Crore Seized In Manipur
National

Drugs Worth Rs 2.68 Crore Seized In Manipur

February 1, 2023
UP Woman Beats Man In Park Over Dispute, Investigation Underway: Cops
National

Maharashtra Woman Beaten, Paraded With Garland Of Shoes For Questioning Husband’s Death

January 31, 2023
Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak
National

Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak

January 31, 2023
Nitish Kumar’s Sulking Aide Upendra Kushwaha Recalls A 1994 Challenge To Lalu Yadav
National

Nitish Kumar’s Sulking Aide Upendra Kushwaha Recalls A 1994 Challenge To Lalu Yadav

January 31, 2023

Connect with us

No Result
View All Result

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020

Category

  • Artistic
  • Business
  • Crypto
  • Design
  • Entertainment
  • Fashion
  • featured
  • Food
  • Gaming
  • Health
  • Human
  • Lifestyle
  • Movie
  • Music
  • National
  • Opinion
  • Politics
  • Science
  • Spaces
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Recent Posts

  • Drugs Worth Rs 2.68 Crore Seized In Manipur
  • Maharashtra Woman Beaten, Paraded With Garland Of Shoes For Questioning Husband’s Death
  • Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak

About Us

The Outlooker

The Outlooker is your source of authentic, hand-picked news, stories, analysis from India & the World.

  • Terms Of Service
  • Privacy Policy
  • About us
  • Submit your story
  • Contact

© 2019-2021 The Outlooker. All rights reserved.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2019-2021 The Outlooker. All rights reserved.