Gland Pharma's Rs 6,480-cr IPO sails through on institutional support

Institutional portion sees 6.4x subscription; HNIs, retail investors give issue a miss

The Rs 6,480-crore initial public offering (IPO) of the Hyderabad-based Gland Pharma managed to sail through on the back of institutional investor support, even as individual investors shunned the issue.

The institutional investor portion of the IPO was subscribed 6.4x. 

Meanwhile, the high networth individual (HNI) portion was subscribed 51 per cent, and retail investor portion subscribed just 24 per cent. 

Of the Rs 6,480 crore, less than a sixth came from these two classes of investors — who had nearly 50 per cent of the issue reserved for them.

Experts said the steep pricing of the IPO made a dent in the HNI