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Gland Pharma IPO: Share allotment finalised, here's how to check

Now the company is expected to list its equity shares on bourses on November 20

November 18, 2020 / 07:18 AM IST
 
 
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Gland Pharma, owned by Chinese firm Fosun Pharma, has finalised the basis of allotment for its maiden public issue on November 17.

Now the company is expected to list its equity shares on bourses on November 20. But before that, the initiation of refunds (if any, for anchor investors) as well as unblocking of funds from ASBA account will take place around November 18, and shares will get credited to eligible investors around November 19, as per the IPO schedule available in the prospectus.

Investors can check their allotment status in few simple steps on the website of registrar appointed for its Rs 6,480-crore IPO.

The registrar provides three options for checking allotment status. Investors can check the allotment status either through PAN (Permanent Account Number), Application Number or DP/Client ID.

Investor should select company name - Gland Pharma - and then accordingly should enter either PAN Number, Application Number or DP/Client ID.

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Investors can also check the IPO allotment or application status on the BSE website in just five easy steps:

1) Check box "Equity" in the issue type
2) Select Issue Name "Gland Pharma"
3) Enter the application number
4) Enter PAN

5) Click the "Search" button.

Also read: All about the IPO allotment process for retail investors

Once the abovementioned information provided by investors is correct, they will see the application status. Investors can see the number of shares subscribed to during the IPO and the shares alloted on the page.

The public issue was subscribed 2.06 times during November 9-11. The qualified institutional buyers provided major support to the IPO as their reserved portion witnessed subscription of 6.4 times, but the portion set aside for retail and non-institutional investors was subscribed only 24 percent and 51 percent respectively.

This was the 13th maiden public issue in the year 2020, after SBI Card, Rossari Biotech, Mindspace Business Parks REIT, Route Mobile, Happiest Minds Technologies, Computer Age Management Services, Chemcon Speciality Chemicals, Angel Broking, Mazagon Dock Shipbuilders, UTI AMC, Likhitha Infrastructure and Equitas Small Finance Bank.
Moneycontrol News
first published: Nov 18, 2020 07:18 am

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