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Why Gland Pharma shares soared by 21% on the day of IPO listing?

  • November 24, 2020 09:25 PM AEDT
  • Team Kalkine

Shares of Gland Pharma Limited got listed on the Bombay Stock Exchange and National Stock Exchange on 20 November 2020. Gland Pharma is a fast-growing injectables company based out of Hyderabad, India. The Company is backed by Fosun Pharma of China, which develops and manufactures injectables.

Gold MTF non-AMP

It is mindful to note that Gland Pharma does not have any debt on its balance sheet, and it has a robust cash position. The Company will use the raised funds for capital investment and working capital.

 


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