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

Name: Why Gland Pharma shares soared by 21% on the day of IPO listing?
Uploaded: Nov 24, 2020 AEDT
Duration: 1 min 54 s
Description: 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, ...

November 24, 2020 09:25 PM AEDT
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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.

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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