HomeGland Pharma IPO opens for subscription: Proceeds to be used to meet capex, working capital needs

Gland Pharma IPO opens for subscription: Proceeds to be used to meet capex, working capital needs

The Gland Pharma IPO opens for subscription today. The price band has been set at Rs 1,490-1,500.

Profile image

By Nigel D'Souza   | Mangalam Maloo  November 9, 2020, 4:05:37 PM IST (Updated)

Gland Pharma IPO opens for subscription: Proceeds to be used to meet capex, working capital needs
The Gland Pharma IPO opens for subscription today. The price band has been set at Rs 1,490-1,500.


Srinivas Sadu, MD & CEO of Gland Pharma, in an interview with CNBC-TV18, said, “This is Rs 1,250 crore of primary, we are going to use some in capital expenditure - it is about Rs 168 crore. Some of it will go into working capital because we are growing very fast and also some of it for the general corporate expenses.”

On capital expenditure

He said, “We are getting into pens and cartridges a new technology, we are also vertically integrated company so expansion more into the API manufacturing side and also we are getting into manufacturing intermediate so that we are less dependent on external companies.”

On acquisitions and inorganic opportunities

Sadu added, “We are also looking at some technologies to get in like fermentation technology because we are strong in anti-infective area and lot of APIs into that segment are from fermentation side and as part of our vertical integration strategy we want to strengthen that area and we are looking at assets to as have this. Actively we have not identified anything but we are looking at several things.”

To know more, watch the video.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!