Another big IPO is going to open soon. Share market regulator SBI has allowed Gland Pharma to issue an IPO of Rs 6,000 crore. Now soon this pharma company is going to announce the date of opening the IPO. Actually, the year 2020 has been the best in terms of IPO. This is the first IPO of a pharma company this year. Gland Pharma has aimed to raise Rs 6 thousand crore through an IPO.

It can be a fresh issue of Rs 1,250 crore under this IPO, while an offer for sale (OFS) of Rs 4,750 crore can be kept. The lead managers of the IPO are Citi, Nomura and Kotak Mahindra Bank. It is believed that this IPO will come next month. Also, Shanghai Fosan Pharma has majority participation in this pharma company. Fosan Pharma, listed in Hong Kong, purchased a 74% stake in Gland Pharma in October 2017. Fosan Pharma had bought Gland Pharma's stake from private equity firm KKR and the Chinese company invested $ 1.09 billion for it.

This is the biggest IPO of recent times. Through this issue, the Fosun group and the company's Indian founders will sell their partnerships. Most of the money received from this IPO will be used by the company to boost Indian business and to meet working capital requirements. Not only this, if the strategy of Gland Pharma's IPO issue is completed, it will be the first major IPO issue of an Indane company with majority participation of a Chinese company.

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