Today, 20th November is the listing day of India’s largest Pharma company IPO i.e. Gland Pharma IPO. The Gland Pharma listed on the NSE at the price of Rs. 1710 whereas the issue price was Rs. 1500. The stock made a high of 1850, 23.3% up despite the volatile day and closes at Rs. 1820.45.
“We suggest traders and short-term investors can look to book profit at 10-15 percent of listing gains. From a long-term perspective, injectable business is one of the growing businesses and investors can hold it for long term,” Yash Gupta-Equity Research Associate at Angel Broking.
Given the good response to the IPO from qualified institutional buyers and strong financials from a diversified revenue base along with healthy cash flows, the listing was in line with expectations.
Gland Pharma was established in Hyderabad in 1978, It has grown over the years from a contract manufacturer of small-volume liquid parenteral products to emerge as one of the largest and fastest-growing injectable focused companies, with a footprint across 60 countries, including the United States, Canada, Australia, India and in Europe.
The company operates primarily under a business to business (B2B) model and has an impressive record in the development, manufacturing, and marketing of complex injectables. This presence across the value chain has helped the company witness exponential growth.
Abhishek is the founder of Above Stocks. He manages the News section of our site. Having learned the art of Stock Trading, he is always keen to know the latest updates in the Indian Stock Market and put it down in our news section.