Gland Pharma IPO: Here's How To Check Allotment Status

Gland Pharma is likely to be finalise the basis of allotment for its Rs 6,480-crore public issue on November 17, as per the initial public offering (IPO) schedule detailed in its prospectus. China's Fosun Pharma-backed Gland Pharma's Rs 6,480 crore IPO had managed to sail through, bagging subscription of a mere 2.06 per cent. The company had received bids for 6,21,55,670 shares, as against the issue size of 3,02,37,879 shares. The shares of Gland Pharma are likely to be listed on the bourses on November 20.

The public offering was open for bidding for three days, from November 9 to November 11, in the price band of Rs 1,490-1,500 per share. The IPO consisted of a fresh issue of shares worth around Rs 1,250 crore and an offer for sale (OFS) of more than 3.4 crore shares. The OFS involved sale of up to 1.94 crore shares by Fosun Pharma Industrial Pte Ltd, 1 crore shares by Gland Celsus Bio Chemicals Pvt Ltd, 35.73 lakh shares by Empower Discretionary Trust and 18.74 lakh shares by Nilay Discretionary Trust.

Gland Pharma will be the first Indian company, with Chinese parentage, to tap the primary market for funding and its IPO will be the largest pharma public offer in the country.

Gland Pharma was founded by P V N Raju in the year 1978. Fosun Pharma took a majority stake of 74 per cent in the Hyderabad-based company in 2017.

Gland Pharma manufactures injectables and has clients in over 60 countries, including the United States, Europe, Canada, Australia and India.

Kotak Mahindra Capital, Citigroup Global Markets, Haitong Securities and Nomura Financial Advisory and Securities are the book running lead managers to the IPO; Link Intime India Pvt Ltd is the registrar to the issue.

Here's how to check the Allotment Status of Gland Pharma

• Access the website of the IPO registrar - Link Intime India
• Select Gland Pharma - IPO' in the dropdown menu
• Check the box -application number or depository ID/client ID or PAN (Permanent Account Number)
• Enter the 'Application Number,' or depository ID/client ID or PAN (Permanent Account Number)
• Enter the captcha
• Click on the 'submit' button

Access the BSE website: https://www.bseindia.com/investors/appli_check.aspx.

• Select 'Equity' and from the dropdown menu, select issue name as 'Gland Pharma'
• Enter your application number and PAN card number
• Click on the 'Search' button