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Gland Pharma raises Rs 1944 crore earlier than IPO

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Hyderabad based mostly Gland Pharma has raised Rs 1,944 crore from 70 anchor buyers forward of its proposed preliminary public supply (IPO). About 1.29 crore fairness shares had been allotted to anchor buyers on Friday at an higher worth band of Rs 1500 per share.

About 6.62% of the anchor portion was allotted to Small Cap World Fund whereas 5.32% was subscribed by Government Of Singapore. The Nomura Trust and Banking Co., Goldman Sachs India, Axis Mutual Fund, Franklin Templeton Mutual Fund and SBI Mutual Fund have been allotted little over 3% of the portion reserved for anchor buyers.

Other main anchor buyers in Gland Pharma consists of Neuberger Berman Emerging Markets Equity Fund (2.87%), Aditya Birla Sun Life Mutual Fund (2.84%), ICICI Prudential Mutual Fund (2.84%), Nippon India Mutual Fund (2.84%), Kotak Mutual Fund (2.46%), Schroder International Selection Fund Indian Equity (2.46%), Morgan Stanley India Investment Fund (2.27%) and HSBC Global Investment Funds (2.24%)

The IPO will open from 9 November for subscription and can shut on 11 November. The worth band has been mounted at Rs 1490 to Rs 1500 per share. The Initial Public providing contains of a contemporary situation aggregating as much as Rs 1,250 crore and a proposal on the market of as much as 3.49 crore shares, together with as much as 1.94 crore Shares by Fosun Pharma Industrial PTE and as much as one crore hares by Gland Celsus Bio Chemicals.

Bids will be made for no less than 10 shares and in multiples of 10 shares thereafter. Kotak Mahindra Capital Company, Citigroup Global Markets, Haitong Securities India and Nomura Financial Advisory and Securities (India) are the e-book operating lead managers to the supply.

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