The company “Glenmark Life Sciences Ltd.” is a subsidiary company of “Glenmark Pharmaceuticals”. The company was incorporated in 2011, it is the leading manufacture of Activa Pharmaceuticals Ingredients. Glenmark Life Sciences develops, manufactures, and supplies high-quality APIs for cardiovascular disease (CVS), central nervous system diseases (CNS), pain management and diabetes, gastrointestinal disorders, anti-infectives, and other therapeutic areas.
Here in this article, you will find full details of Glenmark Life Sciences IPO review, details, financials, grey market premium, tentative timetable, etc.
Glenmark Life Sciences IPO Review and Details
IPO Issue Size- The company is planning to raise Rs. 1513.60 crore through its public issue from July 27 to 29th, 2021. This IPO comprising a fresh issue of Rs. 1060 Crores and sale of Rs. 453.60 crore by promoter Glenmark Pharma.
Utilization of IPO Fund- The net proceeds of the fresh issue will be utilized for payment of outstanding purchase consideration to the promoter for the spin-off of the API business from the promoter into their company and working capital requirements.
About the Company Glenmark Life Sciences Ltd.
The company is a leading developer and manufactures of selected high-value, non-commoditized active pharmaceuticals ingredients (APIs) in chronic therapeutic areas, including cardiovascular diseases (CVS), central nervous system diseases (CNS), pain management, and diabetes.
It has a strong market share in select specialized APIs like Telmisartan (anti-hypertensive), Atovaquone (anti-parasitic), Perindopril (anti-hypertensive), Teneligliptin (diabetes), Zonisamide (CNS), and Adapalene (dermatology).
As of March 31, 2021, Glenmark Life Sciences had a portfolio of 120 molecules globally and sold their APIs in India, and exported their APIs to multiple countries in Europe, North America, Latin America, Japan, and the rest of the world. Revenues from regulated markets were 65.64 percent of FY21 revenues.
The company also increasingly provides contract development and manufacturing operations (CDMO) services to a range of multinational and specialty pharmaceutical companies. Its key customers include Glenmark, Teva Pharmaceutical Industries, Torrent Pharmaceuticals, Aurobindo Pharma, Krka, etc.
Glenmark Life Sciences IPO Details
| Particulars | IPO Details |
|---|---|
| IPO Opening Date | July 27, 2021 |
| IPO Closing Date | July 29, 2021 |
| Issue Type | Book Built Issue IPO |
| Issue Amount | Rs. 1513.60 Crore |
| Fresh Issue | Rs. 1060 Crore |
| offer for sale | Rs. 453.60 Crore |
| Price Band of IPO | Rs. 695 to 720 per equity shares |
| Face Value | Rs. 2 per equity share |
| Lot Size | 20 Shares and in multiples thereafter |
| Listing At | BSE and NSE |
Glenmark Life Sciences IPO Dates- Tentative Time Table
| Particulars | Dates |
|---|---|
| IPO Open Date | July 27, 2021 |
| IPO Close Date | July 29, 2021 |
| Basis of Allotment Date | Aug 02, 2021 |
| Initiation of Refunds | Aug 04, 2021 |
| Credit of Share to Demat A/c | Aug 05, 2021 |
| IPO Listing Date | Aug 06, 2021 |
Glenmark Life Sciences IPO Lot Size
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 20 | Rs. 14,400 |
| Maximum | 13 | 260 | Rs. 1,87,200 |
Glenmark Life Sciences IPO Grey Market Premium (GMP) Today
Glenmark Life Sciences IPO opened on Tuesday and received a strong response from investors, fully subscribing to the issue in less than two hours. Retail Investors lead the charge oversubscribing the issue on day one.
In the unlisted space, the GMP of Glenmark Life Sciences IPO was trading at a premium of Rs. 136-140 per share. On Tuesday it was opened at 300 per share but then slipped later. On 28th July 2021, The grey market premium of Glenmark IPO is traded at Rs. 125 per share.
To know more about the IPO, read the red herring prospectus here. The issue opens on 27 July 2021 and you can subscribe to Glenmark Sciences IPO by logging/sign up to your upstox Demat a/c. Meanwhile, we will keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned.
How to Apply For Glenmark IPO?
Frequently Asked Questions- FAQs
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What is the Glenmark Life Sciences IPO allotment date?
The company is planning to raise Rs. 1513.60 crore through its public issue from July 27 to 29th, 2021. This IPO comprising a fresh issue of Rs. 1060 Crores and sale of Rs. 453.60 crore by promoter Glenmark Pharma. The allotment date of the IPO is 2nd August 2021.
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What is the Glenmark Life Sciences IPO GMP?
In the unlisted space, the GMP of Glenmark Life Sciences IPO was trading at a premium of Rs. 136-140 per share. On Tuesday it was opened at 300 per share but then slipped later. On 28th July 2021, The grey market premium of Glenmark IPO is traded at Rs. 125 per share.
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Who is the registrar of Glenmark Life Sciences IPO?
KFinte, Tower B, Plot No. 31 & 32, Financial District, Nanakramguda, Gachibowli, Hyderabad, Telangana India- 500032.
Phone- 04067162222, 04079611000
Email- glenmark.ipo@kfintech.com
Website- https://karisma.kfintect.com -
What is the contact information of Glenmark Life Sciences IPO?
Glenmark Life Sciences Limited
Plot No. 170-172, Chandramouli Industrial Estate,
Mohol Bazarpeth, Solapur 413 213,Phone: +91 2189 234456/ +91 2189
Email: complianceofficer@glenmarklifesciences.com
Website: http://www.glenmarklifesciences.com/ -
How to apply for Glenmark Life Sciences IPO?
To apply for Glenmark IPO online, an investor has to open a Demat account/trading account with financial institutions that provide this facility. like upstox. Once the account is open one should follow the below steps to apply online-
On the IPO date, the first login to your Demat a/c and select the IPO you wish to invest in.
Visit IPO Section your Demat a/c.
Select the Glenmark Life Sciences IPO.
Click on Apply.
Enter your UPI ID.
Select Bid.
Check the box of SEBI Terms and Conditions.
Confirm the UPI AutoPay request from the UPI app.
Kudos! your IPO application will be submitted and sent to the company. -
What is the Glenmark IPO Listing Date?
The Glenmark company IPO tentative listing date is August 6, 2021.
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