The initial public offer of Gland Pharma was subscribed over 4 per cent on the first day of subscription on Monday.
The initial share sale received bids for 12,69,110 shares against 3,02,37,879 shares on offer, according to data available with the NSE.
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The initial public offer comprises a fresh issue of Rs 1,250 crore and an offer for sale of 34,86,3635 shares. The price range for the offer, which would close for subscription on Wednesday, has been fixed at Rs 1,490-1,500 per share.
While market circles expect the response to improve over the next two days, Gland Pharma has raised Rs 1,944 crore from anchor investors.
