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Published on 23/11/2020 10:43:39 AM | Source: Motilal Oswal Financial Services Ltd

Gland Pharma IPO had a strong listing at Rs. 1720 By Hemang Jani, Motilal Oswal

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Below are Views On Gland Pharma IPO had a strong listing at Rs. 1720 By Mr Hemang Jani, Head - Equity Strategy, Broking & Distribution, Motilal Oswal Financial Services Ltd

“Gland Pharma IPO had a strong listing at Rs. 1720 (Issue Price was Rs. 1500). It is a niche player, focused on injectables. It has proven track record of growth and profitability along with a consistent regulatory compliance history. It has never received a negative USFDA report. The future prospects are bright as it has 267 ANDA filings of which 215 are approved. Pharma sector is in focus and given its strong fundamentals and promising future, there is lot of investment interest. Retail participation was muted at the absolute issue price was higher at Rs 1500 and past few IPOs didn’t have strong listing.”

 

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