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<ul><li>Gland Pharma has set an issue price band of ₹1490 -₹1500 per share. </li><li>The company is backed by China’s Fosun Pharma, making it one of the biggest offerings by a company with a Chinese parent in India.</li><li>The recent geopolitical tension between India and China remains a big risk factor, and may not play out well for Gland Pharma. </li></ul>The ₹6,500 IPO of Hyderabad-based Gland Pharma is now open for subscription. The company is backed by China’s Fosun Pharma, making it one of the biggest offerings by a company with a Chinese parent in India. Gland Pharma has set an issue price band of ₹1490 -₹1500 per share. While most analysts have a ‘subscribe’ call on it, some advise caution due to the stretched valuation. Ahead of the IPO, the company already raised ₹1,944 crore from anchor investors at the price of ₹1,500 per equity share. Some of the marquee names among the anchor investors include the Government of Singapore, Nomura, Goldman Sachs, Morgan Stanley, SBI Mutual Fund and Axis Mutual Fund. Investment experts recommendations for <keyword id="9553483" type="UNKNOWN" weightage="20" keywordseo="Gland-Pharma-IPO">Gland Pharma IPO</keyword> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendations </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GEPL Capital </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharekhan </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with Caution </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody></table> The company said the proceeds from the issue would be utilised for funding incremental working capital requirements, capital expenditure requirements and general corporate purposes. And, it is worthy to note while the company will not receive any money from the offer for sale portion. Post the IPO, the promoter shareholding will fall to 58% from current 74%.The offer for sale comprises 1.93 crore shares by promoter Fosun Pharma Industrial, and 1 crore equity shares by Gland Celsus Bio Chemicals, 35 lakh shares by Empower Discretionary Trust and 18 lakh by Nilay Discretionary Trust. <div type="image" title="Gland Pharma share holding" msid="79125202" hostid="261"></div> In the offering, no more than 50% of the stake will be given in qualified institutional placements (QIP), while at least 35% will be available for retail investors and the rest will be available for non-institutional bidders. Here’s what makes the share sale attractive Business spread over 60 countries With its business spread over 60 countries, the company has a great track record of revenue delivery and profitability across the United States, Europe, Canada, Australia, India and the rest of the world, according to Axis Securities. As of June 30, the company earns nearly 63% of its revenue from the US and nearly 15% from India — these two countries are the biggest market for Gland Pharma. The expansion in various other countries helps in offsetting the slowdown impact in a particular region or a country. <div type="image" title="Gland Pharma Revenue break up" msid="79125221" hostid="261"></div> The sector is poised to grow, and its listed peers are proof of that The coronavirus pandemic has already shown how important the pharma industry is. And, from here onwards the sector is slated to touch new high heights. According to Sharekhan, the global formulations market grew at a compound annual growth rate of 5.8% from 2014 to reach $1,096 billion in 2019. The market is further estimated to clock a CAGR of 4.4% to reach $1,359 billion by 2024. The gains in other listed Indian pharma stocks are proof of safety that investors have found in the sector. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stocks </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains since March 31 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">81.00% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aurobindo Pharma </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">88% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">56% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cadila Healthcare </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">61% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57% </td></tr></tbody></table> The company’s strong customers base and diversified revenue base, which make it an interesting bet for investors Gland Pharma has a successful track record of operating a B2B model with leading pharmaceutical companies such as Sagent Pharmaceuticals and Apotex as well as Fresenius Kabi USA and Athenex Pharmaceutical Division in the United States and the Rest of the world. It also has 7 manufacturing facilities that are situated in southern India including 2 sterile injectables facilities, 1 dedicated Penems facility, 1 oncology facility and 3 API facilities. According to Axis Securities, the company’s revenue base is diversified by the business model as well as by key customers and markets. Its top 5 customers in Fiscals 2018, 2019 and 2020 and the 3 months ended June 30, accounted for 49.92%, 47.86%, 48.86% and 44.45%, respectively, of the total revenue from operations for the relevant period. <div type="image" title="Gland Pharma profit and revenue (1)" msid="79125244" hostid="261"></div> Risk factors to consider before subscribing Geopolitical tension in the Asia region The recent geopolitical tension in the Asia region between India and China may not play out well for Gland Pharma. However, the company denied any impacts on its business because of having a Chinese promoter. But Choice research report highlighted that anti-Chinese sentiment after the recent geopolitical tension in the Galwan valley may disrupt its business. Fierce competition in the industry Although the pharma sector is deemed to grow, what remains challenging is the cut-throat competition in the industry. “The markets in which Gland Pharma sells its generic injectable products are highly competitive. According to the IQVIA Report, injectable manufacturers face entry barriers such as high capital investments, operational costs, manufacturing complexities, stricter compliance requirements (because of the sterile nature of products) and high-quality standards resulting in limited competition in the market,” the Sharekhan report said. 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China’s Fosun-owned Gland Pharma IPO opens today— Here’s all you need to know about India’s largest pharmaceutical IPO

<ul><li>The shares of <keyword id="6444828" type="ORGANIZATION" weightage="20" keywordseo="gland-pharma">Gland Pharma</keyword> listed at a premium of 12% over the issue price band.</li><li>In minutes after its debut, the shares gained over 6% and were trading at ₹1795.30 a piece at 10:04 am.</li><li>Gland Pharma's total market cap rose to ₹28,636.54 crore. </li></ul>The ₹6,480 crore initial public offering of the Chinese promoter Fosun Pharma-backed Gland Pharma made a lot of money for its IPO investors despite a subdued response during the public issue. Top brokerages had advised caution on Gland Pharma, given its China connection. However, investors could not resist its strong financial performance and the fear of missing out has helped the company record a stellar debut on Dalal Street. The shares listed at a premium of 12% over the issue price band. And, in minutes after listing debut the shares gained over 6% and were trading at ₹1795.30 a piece at 10:04 am in a firm market. This is the 13th company to list this year and the largest ever public issue in the Indian pharma industry. Gland Pharma total market cap rose to ₹28,636.54 crore at 10:03 am. A total traded quantity of 1.39 lakh shares changed hands on BSE amounting to a turnover of ₹23.86 crore. The company will trade with the symbol of ‘GLAND’ on the Indian stock exchanges. <div type="image" title="Gland Pharma share" msid="79316011" hostid="261"></div> Rising demand for Gland Pharma So far this year, nearly every company that recorded a tepid response during their IPO saw a discounted listing. And, the IPO’s of UTI AMC, Likhitha Infrastructure and Angel Broking are proof of that. However, the shares of Gland Pharma were piping hot in the grey market ahead of its listing, and the market premium suggested an upside of <a href="https://www.businessinsider.in/stock-market/news/gland-pharma-shares-demand-is-rising-in-the-grey-market-ahead-of-its-listing-tomorrow/articleshow/79302810.cms">7% a day before listing</a>. Given that the Chinese promoter backs it, <a href="https://www.businessinsider.in/stock-market/news/heres-all-you-need-to-know-about-indias-largest-pharmaceutical-ipo-gland-pharma/articleshow/79125211.cms">top brokerages had advised caution</a>, despite its strong financial background, growing industry and diversified portfolio. Choice research report for its IPO highlighted that anti-Chinese sentiment after the recent geopolitical tension in the Galwan valley may disrupt its business. What worked for Gland Pharma? Strong balance sheet Gland Pharma has a successful track record of operating a B2B model with leading pharmaceutical companies such as Sagent Pharmaceuticals and Apotex as well as Fresenius Kabi USA and Athenex Pharmaceutical Division in the United States and the Rest of the world. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing facilities </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 sterile injectables facilities </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 Penems facility </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 oncology facility </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 API facilities </td></tr></tbody></table> <div type="image" title="Gland Pharma profit and revenue (2)" msid="79317475" hostid="261"></div> Diversified business — spread over 60 countries With its business spread over 60 countries, the company has a great track record of revenue delivery and profitability across the United States, Europe, Canada, Australia, India and the rest of the world, according to Axis Securities. <div type="image" title="Gland Pharma Revenue break up" msid="79317490" hostid="261"></div> As of June 30, the company earns nearly 63% of its revenue from the US and nearly 15% from India — these two countries are the biggest market for Gland Pharma.The expansion in various other countries helps in offsetting the slowdown impact in a particular region or a country. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-was-supposed-to-launch-today/articleshow/79315462.cms" data-type="tilCustomLink">PUBG Mobile India was rumoured to launch today — but there is no official update from the company</a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-shares-jump-after-selling-stake-in-indus-towers-for-3760-crore/articleshow/79316662.cms" data-type="tilCustomLink">Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale</a>

FOMO helps Gland Pharma swell on debut

<ul><li>The shares of the recently concluded Gland Pharma IPO will hit the bourses today. This will be the 13th company to list this year.</li><li>The issue received bids for 62 million shares against the offer size of 30 million shares and was oversubscribed by 2.05 times.</li><li>The shares are now hovering at a premium of around <a href="https://www.ipowatch.in/2020/11/gland-pharma-ipo-gmp-grey-market-premium-today.html" data-type="tilCustomLink">₹105-110 </a>in the grey market— which is an upside of 7% over the issue price band. </li></ul>The shares of the recently concluded Gland Pharma IPO are soaring in the grey market ahead of its listing today. This will be the 13th company to list this year. There wasn’t a great demand in the market for Gland Pharma shares— compared to its other IPO peers like Mazagon Dock and Chemcon Chemicals. The IPO saw a tepid response from investors during its ₹6,480 crore IPO. The issue received bids for 62 million shares against the offer size of 30 million shares and was oversubscribed by 2.05 times. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gland Pharma IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shares Offered </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,639,394 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,479,546 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,118,939 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30,237,879 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.40 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.51 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.24 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.06 times </td></tr></tbody></table> The shares are now hovering at a premium of around <a href="https://www.ipowatch.in/2020/11/gland-pharma-ipo-gmp-grey-market-premium-today.html" data-type="tilCustomLink">₹105-110</a> in the grey market— which is an upside of 7% over the issue price band. The grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares. However, it is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Gland Pharma’s IPO clocked in a subdued response due to multiple factors, from <a href="https://www.businessinsider.in/stock-market/news/heres-all-you-need-to-know-about-indias-largest-pharmaceutical-ipo-gland-pharma/articleshow/79125211.cms#:~:text=largest%20pharmaceutical%20IPO-,China's%20Fosun%2Downed%20Gland%20Pharma%20IPO%20opens%20today%E2%80%94%20Here's%20all,about%20India's%20largest%20pharmaceutical%20IPO&amp;text=Gland%20Pharma%20has%20set%20an,a%20Chinese%20parent%20in%20India.">Chinese promoter Fosun Pharma to fierce competition in the industry</a>. This was the second public issue after SBI Cards and Payment Services, which raised about ₹10,355 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-delaportes-new-plan-could-allow-company-to-catch-up-to-to-tcs-infosys-hcl-tech-and-others/articleshow/79299467.cms" data-type="tilCustomLink">Wipro CEO Delaporte’s new plan could give the Indian IT services giant the edge it needs to catch up to its peers, according to analysts</a> <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-customers-have-withdrawn-10000-crore-since-rbis-moratorium-was-announced-last-night/articleshow/79281857.cms" data-type="tilCustomLink">Lakshmi Vilas Bank customers have withdrawn ₹10 crore since RBI's moratorium was announced last night</a>

Gland Pharma’s grey market premium rises ahead of listing today

<ul><li>The IPO of Hyderabad-based Gland Pharma will open on November 9 and close on November 11. </li><li>The company plans to raise up to ₹1,250 crore through issue of fresh equity shares up to 34.8 lakh.</li><li>The lender has fixed a price band of ₹1490-1500 per share.</li><li>The minimum bid for the investors is set at 10 equity shares and in multiples of 10 shares thereafter.</li></ul>The IPO of Hyderabad-based Gland Pharma, which is promoted by China’s Fosun Pharma, will open next week. The lender has fixed a price band of ₹1490-1500 per share. The IPO opens on November 9 and closes on November 11. The company plans to raise up to ₹1,250 crore through issuance of fresh equity shares up to 34.8 lakh. The offer period for anchor investors is one day prior to the bid opening date, i.e. November 6. The company said the proceeds from the issue would be utilised for funding incremental working capital requirements, capital expenditure requirements and general corporate purposes. And, it is worthy to note while the company will not receive any money from the offer for sale portion. The minimum bid for the investors is set at 10 equity shares and in multiples of 10 shares thereafter. The Chinese promoter China’s Fosun Pharma promotes Gland Pharma, and this will be the first domestic IPO of an Indian company with a Chinese parent. Gland Pharma, which develops, manufactures and markets complex injectables, was founded by PVN Raju in 1978 and Fosun Pharma acquired 74% stake in the company in 2017. Gland Pharma <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholders </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stake held </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fosun Pharma </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 74% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gland Celsus </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 12.97% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Empower Trust </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 5.08% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Nilay Trust </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 2.42% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Total </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 94.47 </td></tr></tbody></table> <keyword id="9553483" type="UNKNOWN" weightage="20" keywordseo="Gland-Pharma-IPO">Gland Pharma IPO</keyword> details In the offering, no more than 50% of the stake will be given in qualified institutional placements (QIP), while at least 35% will be available for retail investors and the rest will be available for non-institutional bidders. The offer for sale comprises 193,68,686 shares by promoter Fosun Pharma Industrial, and 1,00,47,435 equity shares by Gland Celsus Bio Chemicals, 35,73,014 shares by Empower Discretionary Trust and 18,74,500 by Nilay Discretionary Trust. Kotak Mahindra Capital Co. Ltd, Citigroup Global Markets India Pvt. Ltd, Haitong Securities India Pvt. Ltd and Nomura Financial Advisory and Securities (India) Pvt. Ltd are the lead book-running managers for the IPO. This IPO comes at a time when its other peers have seen a subdued listing— from Angel Broking to UTI AMC and Equitas Small Financial Bank all have listed at a discount over their issue price band. SEE ALSO: <a href="https://www.businessinsider.in/international/news/us-election-results-date-2020/articleshow/79034082.cms">Here’s when we will know the 2020 US election results</a> <a href="https://www.businessinsider.in/business/corporates/news/ratan-tata-mukesh-ambani-and-uday-kotak-to-be-a-part-of-pm-modis-virtual-global-investor-roundtable-on-thursday/articleshow/79032895.cms">Ratan Tata, Mukesh Ambani and Uday Kotak to be a part of PM Modi's Virtual Global Investor Roundtable on Thursday</a>

Gland Pharma ₹1,250 crore IPO to open next week — sets price band at ₹1,490-1,500

Hong Kong suspended use of the <keyword id="44612" type="DOMAIN" weightage="20" keywordseo="Pfizer">Pfizer</keyword> <keyword id="24209" type="PERSON" weightage="20" keywordseo="vaccine">vaccine</keyword> Wednesday after its Chinese distributor informed the city that one batch had defective bottle lids. The city's government said the suspension was immediate while the matter is investigated by distributor Fosun Pharma and <keyword id="3124139" type="COMPANY" weightage="20" keywordseo="BioNTech">BioNTech</keyword>, the German company that created the vaccine with American pharmaceutical firm Pfizer. BioNTech and Fosun Pharma have not found any reason to believe the product is unsafe, according to the statement. However, vaccinations will be halted as a preventive and safety measure. The defective lids were found on vaccines from <keyword id="6339212" type="UNKNOWN" weightage="20" keywordseo="batch-number">batch number</keyword> 210102. A separate batch of vaccines, 210104, will also be not be administered. The semi-autonomous territory of Macao also said Wednesday that its residents will not receive the <keyword id="10466425" type="UNKNOWN" weightage="20" keywordseo="pfizer-shots">Pfizer shots</keyword> from the same batch. The vaccines from the batch comprise a total of 585,000 doses, with the other batch number 210104 holding 758,000 doses, according to Hong Kong's Director of Health Constance Chan. Although about 150,000 doses from the batch 210102 have been administered in the city so far, officials said during a press briefing Wednesday that the vaccines were safe to use despite the packaging defects, and that suspending the vaccination was a precautionary measure. Batch number 210104 remains in the warehouse and has not been used. Chan said that there were over 40 instances when medical personnel found defective packaging, such as cracks on the vaccine bottles or leakages when the vaccine was diluted with saline before being administered. None of these vaccines was given to residents and they were thrown away, officials said. "Fosun has promised to carry out an immediate investigation so they are going to approach the manufacturer in <keyword id="87" type="LOCATION" weightage="20" keywordseo="Germany">Germany</keyword> to look into their plant," Chan said. "When the vaccines arrive in Hong Kong, they will have a review of the whole logistics chain to see if that's the cause of the current situation." She said that officials are urging manufacturers to give a report as soon as possible to check if the batches of vaccines in Hong Kong can be used, otherwise the manufacturers will have to deliver another batch of shots as soon as possible. Residents who are slated to receive their second Pfizer dose starting on Saturday should get the second shot administered as soon as possible, if new vaccines arrive in Hong Kong after the recommended 19- to 42-day window following the first dose. BioNTech could not be immediately reached for comment. Fosun Pharma said in a filing to the Hong Kong stock exchange that it received notice from BioNTech regarding the packaging defects on Tuesday night and informed Hong Kong and Macao authorities on Wednesday to temporarily suspend the vaccines. The suspension of the Pfizer jab means the only vaccine currently offered to residents is China's Sinovac. The two vaccines are the only ones that were offered to residents in Hong Kong. German expatriate Jannis Partsafas was among a group of people who received the Pfizer shot ahead of the suspension. "I got vaccinated this morning at 8.30 a.m. before the news went public about the vaccine suspension, and heard the news when I was on my way home," said 32-year-old Partsafas, who works in the sporting goods industry. "I'm not very concerned about the safety, but I am worried that this may mean more people will turn down the option of getting vaccinated in Hong Kong which would impact herd immunity and the lifting of social-distancing measures," he said. Some residents who had appointments to receive the Pfizer shots stood in line outside a community center in the city's Sai Ying Pun neighborhood at about 10.30 a.m. They eventually left when it became clear the vaccines would not be administered. As of 8 p.m. Tuesday, 403,000 people have received vaccines in the city, of which 150,200 had received the first dose of the Pfizer vaccine, compared with 252,800 who had taken the Sinovac jab. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/inshorts-backed-social-networking-app-public-raises-300-crore-in-latest-funding/articleshow/81663873.cms">Inshorts-backed social networking app Public raises ₹300 crore in latest funding</a> <a href="https://www.businessinsider.in/science/environment/news/inequality-is-only-increasing-in-india-the-resulting-lack-of-trust-may-make-climate-change-a-tougher-challenge-to-tackle/articleshow/81666431.cms">Inequality is only increasing in India — the resulting lack of trust may make climate change a tougher challenge to tackle</a> <a href="https://www.businessinsider.in/business/auto/news/elon-musk-announced-now-you-can-buy-tesla-cars-with-bitcoin/articleshow/81667459.cms">You can now buy a Tesla with Bitcoin, tweets Elon Musk</a> <a href="https://www.businessinsider.in/personal-finance/news/everyday-items-may-get-even-more-expensive-indian-homes-should-brace-for-a-rise-in-cost-of-living/articleshow/81667537.cms">Everyday items may get even more expensive ⁠— Indian homes should brace for a rise in cost of living</a>

Hong Kong halts use of Pfizer vaccine after its Chinese distributor informed the authorities of defective bottle lids

San Francisco, July 3 (IANS) Tesla is helping German vaccine maker CureVac build portable molecular RNA printers to help produce quick doses of vaccine maker's Covid-19 candidate. CureVac's printers are designed to quickly create mRNA vaccine candidates against known pathogens. "Tesla, as a side project, is building RNA microfactories for CureVac &amp; possibly others," Tesla CEO Elon Musk tweeted on Thursday. "In principle, I think synthetic RNA (and DNA) has amazing potential. This basically makes the solution to many diseases a software problem," he added. Pharmaceutical companies like CureVac are working to create a Covid-19 vaccine using "messenger RNA," which can be manually inserted into cells to initiate an immune response. CureVac says its mRNA vaccine candidates direct cells to make proteins or antigens against various diseases. CureVac's vaccine candidate called 'CVnCoV' received German and Belgian regulatory clearance to enter phase 1 human testing last month. Other companies making RNA vaccines include Moderna and Pfizer and BioNTech. According to Forbes, Moderna is looking to start phase 3 trials by July for its vaccine candidate named mRNA-1273. BioNTech is developing the vaccine inside of China with Fosun Pharma, a Chinese pharmaceutical company, and Pfizer said they will develop the company's experimental Covid-19 vaccine outside of China. --IANS na/

Tesla building RNA microfactories to help fight Covid-19: Musk

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Charlotte Hu / Business Insider</div></div></div>Picture a bulky, wired-up ultrasound machine, condensed to the size of an electric razor that can plug in to your phone, and fit into your pocket. And better yet, it costs only $2,000. The ultrasound-on-a-chip is the invention of Butterfly Network, founded by Jonathan Rothberg, who also had a hand in creating <a href="https://www.nytimes.com/2011/01/05/health/05gene.html">Next Generation DNA-sequencing,</a> which made the then-exclusive DNA sequencing technology a standard part of most medical practices and clinics.The new device, named Butterfly iQ, was inspired by Rothberg's own personal experiences. His daughter was born with a disease called tubular sclerosis, which creates tiny tumors all over the body. The treatment procedure for this requires the use of a high-frequency ultrasound and MRI-imaging. Through this ordeal, Rothberg became frustrated with the limited amount of ultrasound machines available in a hospital and the hassle of waiting for hours for a machine to become available. Rothberg wanted to democratize the access to these machines, which can cost up to $70,000 on average. By sizing the machine down and making it more versatile, Butterfly Network hopes to enable a wider range of doctors and healthcare workers to make more precise diagnoses out in the field, at in-office checkups, and in emergency rooms and ambulances. On Thursday, the company announced that it has raised $250 million in a series D fundraising round and is expecting to ship out starting this week, with investments from Fidelity, Fosun Pharma, and the Bill and Melinda Gates Foundation.It was only a year ago that the Butterfly device was <a href="https://www.butterflynetwork.com/press-releases/first-ultrasound-on-a-chip-receives-broadest-fda-510-k-clearance">first unveiled</a> at an American College of Emergency Physicians conference. Now, it's gearing up to ship out its product to key industry leaders, institutions, and private healthcare providers. Globally there are currently 40 million healthcare practitioners who Butterfly is trying to serve. <a href="http://www.businessinsider.com/intelligence/ai-in-us-healthcare?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=dhealth_ctgr_leadgen&amp;utm_campaign=dhealth_ctgr_leadgen_ai_in_us_healthcare"></a></hr>

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China’s Fosun-owned Gland Pharma IPO opens today— Here’s all you need to know about India’s largest pharmaceutical IPO

Navdeep Yadav

FOMO helps Gland Pharma swell on debut

Navdeep Yadav

Gland Pharma’s grey market premium rises ahead of listing today

Navdeep Yadav

Gland Pharma ₹1,250 crore IPO to open next week — sets price band at ₹1,490-1,500

Navdeep Yadav

Hong Kong halts use of Pfizer vaccine after its Chinese distributor informed the authorities of defective bottle lids

PTI

Tesla building RNA microfactories to help fight Covid-19: Musk

IANS

A new iPhone ultrasound device, whose chief medical officer used it to diagnose his own cancer, just raised $250 million

Charlotte Hu

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