Gland Pharma on its final day of the initial public offering (IPO) got fully subscribed by receiving 2.06x bids. The company had launched its IPO from November 09 - November 11, 2020.
According to cumulative data from NSE, the maiden bagged bids of total 6,21,55,670 equity shares compared to the offered size of 3,02,37,879 equity shares.
For the IPO, the price band was fixed between Rs1490 per equity share to Rs1500 per equity share.
The issue comprises of fresh equity issue to the tune of Rs1,250cr and offers for sale (OFS) where promoters offloaded 3.49cr equity shares.
The company has raised about Rs1,943.86cr from about 70 anchor investors last week.
Overall, Gland Pharma plans to raise about Rs6,480cr through the issue.
On Day 2, the issue was subscribed by just 22% of the total size, while on Day 1 the issue received merely 4% subscription.
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