Stock Name : Gland Pharma/Tips Open Buy : 2,358 Posted Date : Dec 7, 2020
Stopless/Horizon : 2275 Target : 2711 Results Achieved (Yes/No) :

Overview:Gland Pharma is Hyderabad based pharmaceutical company, it develops, manufactures and markets complex injectables.

About the company: Established in 1978, Gland Pharma is one of the largest and fastest growing injectable-focused companieswith a widespread geographical presence in over 60 countries includingUnited States, Europe, Canada, Australia, India and other markets. The company gets around two-third of its revenue from US.

Gland Pharma has a portfolio of injectable products across various therapeutic areas and delivery systems. The company operates primarily under a business to business (B2B) modelwith some leading pharmaceutical companies like Sagent Pharmaceuticals Inc., Apotex Inc., Fresenius Kabi USA LLC, Athenex Pharmaceutical Division LLC (US), etc.

Gland Pharma has seven manufacturing facilities in India, as on June, 2020, the companyhad a manufacturing capacity for finished formulations of approximately 755 million units per annum.

Management:Mr PVN Raju is the Founder & Honorary Chairman and Mr. Srinivas Sadu is the Managing Director and CEO.

Stakeholders: In 2017, China-based Fosun Pharma acquired 74% stake in Gland Pharma. Fosun Pharma industrial PTE Ltd and Shanghai Fosun Pharma (Group) Co. Ltd are the promoters of the company (Post IPO, the promoter shareholding will fall to 58% from 74%).

Sale Report: For the FY 2020, Gland Pharmaposted a PAT of Rs 773 crore on revenue of Rs 2,633 crore. This 70%rise in PAT is due to the increased revenues from in export sales to US and Canada.

IPO: Gland Pharma launched its initial public offering (IPO) worth Rs 6,500 crore with a price band of Rs 1,490-1,500 per share from November 9-11 (2020).

It was India’s biggest IPO in the pharmaceutical sector with Chinese parentage comprised fresh issue of shares aggregating up to Rs 1,250 crore and an offer for sale of up to 3.49 crore shares by existing shareholders.

The incomes from the fresh issue of shares will be utilised for working capital, capital expenditure and general corporate purposes.

In advance of the IPO, Gland Pharma raised ₹1,944 crore from anchor investors at the price of ₹1,500 per equity share. The anchor investors include Government of Singapore, Nomura, Goldman Sachs, Morgan Stanley, SBI Mutual Fund and Axis Mutual Fund.

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