Gland Pharma on Saturday said it has raised Rs 1,943.86 crore from 70 anchor investors ahead of its initial public offering (IPO) that opens on Monday. The company has raised funds at the upper end of the price band at Rs 1,500 per share by allotting 12,959,089 shares to investors.
Overseas investors including SmallCap World Fund INC, Government of Singapore, The Nomura Trust And Banking Co and Goldman Sachs together grabbed nearly 20 per cent of the total anchor allotment. Domestic mutual fund houses, including Axis Mutual Fund, SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund and Kotak Mutual Fund cornered over 15 per cent of shares.
Gland Pharma has set a price band of Rs 1,490-1,500 per share for its Rs 6,500 crore IPO, which will be sold between November 9 and 11.
The total secondary offer comprises about 22.5 per cent of the pre-issue capital with Fosun Group offering 12.5 per cent of the total pre-issue capital and the remaining 10 per cent coming from the other selling shareholders. The total dilution would be 26.48 per cent.
Overseas investors including SmallCap World Fund INC, Government of Singapore, The Nomura Trust And Banking Co and Goldman Sachs together grabbed nearly 20 per cent of the total anchor allotment. Domestic mutual fund houses, including Axis Mutual Fund, SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund and Kotak Mutual Fund cornered over 15 per cent of shares.
Gland Pharma has set a price band of Rs 1,490-1,500 per share for its Rs 6,500 crore IPO, which will be sold between November 9 and 11.
The total secondary offer comprises about 22.5 per cent of the pre-issue capital with Fosun Group offering 12.5 per cent of the total pre-issue capital and the remaining 10 per cent coming from the other selling shareholders. The total dilution would be 26.48 per cent.
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