Business Gland Pharma files papers for IPO Updated : July 11, 2020 12:53 PM IST The proceeds from the fresh issue of shares will be utilised for working capital, capital expenditure and general corporate purposes, according to the DRHP. Investment banking sources said the IPO would be worth over Rs 5,000 crore. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.