Fosun-backed Gland Pharma's shares make strong market debut in India

Fosun-backed Gland Pharma's shares make strong market debut in India

The building of the Bombay Stock Exchange in Mumbai. Credit: Wikimedia Commons

Gland Pharma shares made a strong debut on BSE and NSE today. Its shares rose to as much as 1,850 on BSE, up 23% compared to issue price of 1,500. The pharma company’s initial public offer (IPO), which closed on November 11, was subscribed two times.