Fosun’s IPO Plan For India’s Gland Hits Multiple Targets

Need For Funds, Military Tensions With India In Backdrop

 
• By Vibha Ravi
  
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With a proposed IPO, Gland Pharma’s parent company, Fosun Pharma, hopes to raise funds for its injectables business and possibly its COVID-19 vaccine. The move will also cut Chinese ownership against a backdrop of shaky relations between India and China. As investors warm up to pharma stocks, the timing seems right.

Targets hit in the center by arrows
Bull's Eye For Fosun? • Source: Shutterstock

China-based Shanghai Fosun Pharmaceutical (Group) Co., Ltd.’s plan for an initial public offering (IPO) of its Indian subsidiary, Gland Pharma, aims to achieve multiple objectives. Not only will it raise funds for Fosun’s fast-growing injectables business and possibly for a COVID-19 vaccine in the works with BioNTech SE, it will also cut Fosun’s ownership in the Indian company at a time when relations between the two countries are not at their best.

While the issue date, price band and other details have not yet been disclosed yet, local media reports indicate the...

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