Gland Pharma IPO Live Bid Details, Dates, Allotment, Size, GMP & RHP

Let’s have a detailed review of the company and analytics of the Gland Pharma Limited IPO release date, IPO offer price, subscription, Gland Pharma IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Gland Pharma IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.4/10
Industry Ranking7.1/10
Company Background8.2/10
Company Reputation7.7/10
Competitive Edge7.2/10
Financial Statements8.0/10
Popularity Index7.6/10
Promoters Reputation8.0/10
Retail Appetite7.5/10
Top Brokers Review8.1/10
Overall Ratings7.5/10
Star Ratings★★★★☆

Summary of Gland Pharma IPO

Gland Pharma IPO

They are one of the fastest growing generic injectables-focused companies by revenue in the United States from 2014 to 2019. The company sells their products primarily under a business to business (“B2B”) model in over 60 countries as of March 31, 2020, including the United States, Europe, Canada, Australia, India and the Rest of the world.

They also have an extensive track record in complex injectables development, manufacturing and marketing and a close understanding of the related sophisticated scientific, technical and regulatory processes.

From FY 2017-18 to FY 2019-2020, as per the Restated Financial Statements

  • Their total revenue from operations has grown at a CAGR of 27.38% from Fiscals 2018 to 2020. Their EBITDA has grown at a CAGR of 36.90% from Fiscals 2018 to 2020. The company’s restated profit for the year has grown at a CAGR of 55.15% from Fiscals 2018 to 2020.

The Promoters of this company are FOSUN PHARMA INDUSTRIAL PTE. LTD AND SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.. The lead managers to the issue are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Haitong Securities India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited. The Registrar to this issue is Link Intime India Private Limited.



Gland Pharma IPO Dates / Launch Date

The opening and the closing date of Gland Pharma IPO is not known yet.


Gland Pharma IPO Subscription 

Day / DateQIBNIIRIITotal Subscription
1st Day – 
2nd Day – 
3rd Day – 
4th Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.


Gland Pharma IPO Allotment Status

Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Gland Pharma IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization
Refunds Initiation
Credit of Shares to Demat Account
Share Listing Date

Gland Pharma IPO Price Band / Cash Price

The face value of each share is Rs.1, and the cash price of the IPO is [●]. 


Gland Pharma IPO Size

This Initial Public Issue of [●] Equity Shares of Rs.1 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] million.


Gland Pharma IPO Share Offering

Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company of Rs.1 each at a price of [●] per equity share aggregating to Rs.12,500 million,

Offer:The initial public offer of Equity Shares comprising of the Fresh Issue and the Offer for Sale.

Offer for Sale: Offer for sale consists of Up to 34,863,635 Equity Shares of face value of Rs.1 each for cash at a price of Rs.[●] per Equity Share aggregating Rs.[●] million.


Gland Pharma Limited – Company Overview

They were established in Hyderabad, India in 1978 and have expanded from liquid parenterals to cover other elements of the injectables value chain, including contract development, own development, dossier preparation and filing, technology transfer and manufacturing across a range of delivery systems. They have a professional management team and one of their Promoters, Shanghai Fosun Pharma, is a global pharmaceutical major.

Gland Pharma Portfolio

They are focused on meeting diverse injectables needs with a stable supply of affordable and high quality products. They have established a portfolio of injectable products across various therapeutic areas and delivery systems. The company is present in sterile injectables, oncology and ophthalmics, and focus on complex injectables, NCE-1s, First-to-File products and 505(b)(2) filings.

Their delivery systems include liquid vials, lyophilized vials, pre-filled syringes, ampoules, bags and drops. They are expanding their development and manufacturing capabilities in complex injectables such as peptides, long-acting injectables, suspensions and hormonal products as well as new delivery systems such as pens and cartridges.

Gland Pharma – Manufacturing Infrastructure

Over the years, they have made substantial investments in their manufacturing infrastructure to support their product portfolio needs and reach. They have seven manufacturing facilities in India, comprising four finished formulations facilities with a total of 22 production lines and three API facilities.

As of March 31, 2020, they had manufacturing capacity for finished formulations of approximately 755 million units per annum. Their API facilities provide them with in-house manufacturing capabilities for critical APIs, enabling them to control costs and quality and mitigate supply chain related risks around their key products.

Their capabilities as a vertically integrated company include internal research and development (“R&D”) expertise, robust manufacturing capabilities, a strict quality assurance system, extensive regulatory experience and established marketing and distribution relationships.

Gland Pharma – Success Scenario

They have a successful track record of operating a B2B model with leading pharmaceutical companies such as Sagent Pharmaceuticals, Inc. and Apotex Inc. as well as Fresenius Kabi USA, LLC and Athenex Pharmaceutical Division, LLC in the United States and the Rest of the world using long-term development, licensing and manufacturing and supply agreements.

Their primary B2B model covers IP-led, technology transfer and contract manufacturing models, complemented by a B2C model in their home market of India leveraging their brand strength and sales network.

They have a track record of revenue delivery and profitability across the United States, Europe, Canada, Australia, India and the Rest of the world.

Gland Pharma Limited: Business strategies

  • Expand product portfolio and delivery systems to drive revenue growth
  • Continue to invest in manufacturing and related technological capabilities to meet future demand
  • Increase current market presence and enter new markets
  • Align with Shanghai Fosun Pharma to increase market share
  • Pursue strategic acquisitions and partnerships
  • Continued focus on cost management

Gland Pharma Ltd – Financial Statements

On the basis of Standalone statement:

Amount (in INR & million)
31-Mar-2031-Mar-19Mar-18
Total Assets40,860.3935,235.4929,294.68
Total Revenue27,724.0821,297.6716,716.82
Total Expense17,795.4214,234.8911,702.17
Profit After Tax7,728.584,518.563,210.51

Earnings per Equity Share (in million)

Amount (in INR & million)
Mar-2031-Mar-1931-Mar-18
Basic & Diluted49.8829.1620.72

Gland Pharma IPO – Promoters

The Promoter of this company is:

  • FOSUN PHARMA INDUSTRIAL PTE. LTD
  • SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.

List of Related Parties (Key Managerial Personnel)

  • Srinivas Sadu, MD and CEO
  • Ravi Shekhar Mitra, Chief Financial Officer
  • K V G K Raju, Chief Technology Officer
  • P. Sampath Kumar, Company Secretary and Compliance Officer

Interest in promotion of the Company

Their Promoters are interested in their Company to the extent that they are promoters of their Company and to the extent of their shareholding in the Company and dividend payable, if any, and other distributions in respect of the Equity Shares held by them.

Interests of Promoter in property of their Company

Their Promoters have no interest in any property acquired in the three years preceding the date of this Draft Red Herring Prospectus or proposed to be acquired by their Company or in any transaction by their Company for acquisition of land, construction of building or supply of machinery.


Gland Pharma IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares OfferedUp to [●] Equity Shares, aggregating up to Rs.[●] million
 Of which:
Fresh Issue[●] Equity Shares, aggregating up to Rs.12,500 million
Offer for SaleUp to 34,863,635 Equity Shares, aggregating up to Rs.[●] million
Of which:
QIB CategoryNot more than [●] Equity Shares
Non-Institutional PortionNot less than [●] Equity Shares
Retail PortionNot less than [●] Equity Shares
 Equity Shares outstanding prior to the Issue154,949,490 Equity Shares
 Equity Shares outstanding after the Issue[●] Equity Shares

Gland Pharma IPO Issue Object

Their Company proposes to utilise the Net Proceeds towards funding of the following objects:

1. Funding incremental working capital requirements of their Company;
2. Funding capital expenditure requirements of their Company; and
3. General corporate purposes.

Gland Pharma Limited: Competitive Strength

  • Extensive and vertically integrated injectables manufacturing capabilities with a consistent regulatory compliance track record
  • Diversified B2B-led model across markets, complemented by a targeted B2C model in India
  • Extensive portfolio of complex products supported by internal R&D and regulatory capabilities
  • Track record of growth and profitability from a diversified revenue base with healthy cash flows
  • They have an experienced management and qualified team and are promoted by Shanghai Fosun Pharma

Gland Pharma IPO – Basis of the Offer Price

The Offer Price has been determined by their Company and the Selling Shareholder in consultation with the Lead Managers on the basis of the key business strengths.

Qualitative factors are:

  • Extensive and vertically integrated injectables manufacturing capabilities with a consistent regulatory compliance track record
  • Diversified B2B-led model across markets, complemented by a targeted B2C model in India
  • Extensive portfolio of complex products supported by internal R&D and regulatory capabilities
  • Track record of growth and profitability from a diversified revenue base with healthy cash flows
  • Experienced management and qualified team and promoted by Shanghai Fosun Pharma

Gland Pharma IPO – Quantitative Factors

Basic & Diluted EPSRONW in %NAV (Rs.)
31-Mar-1820.7213.32%
31-Mar-1929.1615.79%
*31-Mar-2049.8821.20%235.32
  • Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] of Rs.[●] per each
ParticularsP/E ratio
Highest[●]
Average[●]
Lowest[●]

Gland Pharma Limited: Competitive Peers

There are no listed companies in India that engage in a business similar to that of their Company. Hence, it is not possible to provide an industry comparison in relation to their Company.


Gland Pharma IPO Lead Managers

Lead Managers
Kotak Mahindra Capital Company Limited

Citigroup Global Markets India Private Limited

Haitong Securities India Private Limited

Nomura Financial Advisory and Securities (India) Private Limited

Gland Pharma IPO Registrar to Offer

Registrar to the Offer
Link Intime India Private Limited
C-101, 1st Floor
247 Park Lal Bahadur Shastri Marg
Vikhroli (West) Mumbai 400 083
Maharashtra, India
Tel: +91 22 4918 6200
E-mail: glandpharma.ipo@linkintime.co.in
Investor grievance e-mail:
glandpharma.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058

Other Details:

  • Statutory Auditor – S.R. Batliboi & Associates LLP
  • Legal Counsel to the Company – Cyril Amarchand Mangaldas
  • Bankers to the Company – HDFC Bank Limited, State Bank of India, Canara Bank (e-Syndicate Bank), The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank.

Gland Pharma IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Gland Pharma IPO Grey Market Premium

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