IPOs are coming back to back on stock exchanges of India. And almost all are doing pretty well too. And in the time of the pandemic, health-related companies are also coming forward to list themselves. One more company listed recently. This company is Gland Pharma.
As expected this IPO also did very well. In both the exchanges, BSE and NSE it made a good debut. The company was offering shares at a price of Rs 1,500 each. But after it got listed, the prices of the IPO rose by almost 14%. Now, the price of Gland Pharma is Ra 1,710 per share.
Shares as we know hit a day high too. And this IPO’s high was pretty good. The intraday high of the IPO was Rs 1,850.00 on both BSE and NSE. But at the time of close of the day, it fell down. On BSE it got listed at Rs 1,701.00 per share. This is not bad too because it is 13.4% higher than the issue price.
Number of Shares Traded of Gland Pharma
If we talk about the number of shares traded, then it is very high too. On NSE, 77.30 lakh shares were traded till today. And on BSE the number of shares was 5.63 lakh.
The Gland Pharma IPO was bought on 2.06 occasions during its offer period from November 9-11. The Rs 6,480 crore IPO of China’s Fosun Pharma-sponsored organization saw a 6.4 occasions membership from Qualified Institutional Buyers(QIBs). Nonetheless, it met with a tepid reaction from the Retail Individual Investors(RIIs) and the Non-Institutional Investors, who bought in only 24 percent and 51 percent separately.
Established at first by P V N Raju in 1978, Gland Pharma current promotor Fosun Pharma had obtained a 74 percent stake in the medication firm in 2017. After this IPO, its advertiser shareholding will boil down to 58 percent.