On October 22, 2020 India’s Gland Pharma, a majority-owned subsidiary of Shanghai Fosun Pharma, reported was approved for an $814 million IPO on India’s Sebi exchange (Press release, GLAND PHARMA LTD, OCT 22, 2020, View Source [SID1234568957]). The Hyderabad-based drug company makes generic injectible drugs for international markets. In 2017, Fosun paid $1.1 billion for a 74% stake in Gland. About $170 million of the IPO will be company shares, while $644 million will go to existing shareholders, a combination of Fosun and long-term investors including the founding family.

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