Glenmark Life Sciences is a wholly owned subsidiary of Glenmark Pharmaceuticals Limited.
It is the leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system, pain management and diabetes. They also manufacture and sell APIs for gastro-intestinal disorders, anti-infectives and other therapeutic areas.
Currently its products are sold in India and exported to Europe, North America, Latin America, Japan, etc. It has 4 manufacturing facilities at Ankleshwar and Dahej in Gujarat and Mohol and Kurkumbh in Maharashtra State with an aggregate annual installed capacity of 725.8 KL as of 31st December 2020
Objects of the Issue:
Glenmark Life Sciences IPO Details
| IPO Opening Date | Jul 27, 2021 |
| IPO Closing Date | Jul 29, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹695 to ₹720 per equity share |
| Market Lot | 20 Shares |
| Min Order Quantity | 20 Shares |
| Listing At | BSE, NSE |
| Issue Size | [.] Eq Shares of ₹2 (aggregating up to ₹1,513.60 Cr) |
| Fresh Issue | [.] Eq Shares of ₹2 (aggregating up to ₹1,060.00 Cr) |
| Offer for Sale | 6,300,000 Eq Shares of ₹2 (aggregating up to ₹453.60 Cr) |
| IPO Open Date | Jul 27, 2021 |
| IPO Close Date | Jul 29, 2021 |
| Basis of Allotment Date | Aug 3, 2021 |
| Initiation of Refunds | Aug 4, 2021 |
| Credit of Shares to Demat Account | Aug 5, 2021 |
| IPO Listing Date | Aug 6, 2021 |
1) Offer for Sale (OFS) Rs 453.6 Crores: Under OFS selling shareholders would sell the shares and company would not get any proceeds from the issue.
2) Fresh issue of Rs 1,060 Crores:
i) To make payment of outstanding purchase consideration to the promoter for the spin-off of the API business from the promoter into the company.
ii) To finance capital expenditure requirements.
iii) To meet general corporate purposes.
The Glenmark Life Sciences IPO open date is Jul 27, 2021, and the close date is Jul 29, 2021. The issue may list on Aug 6, 2021.
Glenmark Life Sciences IPO Lot Size
The Glenmark Life Sciences IPO market lot size is 20 shares. A retail-individual investor can apply for up to 13 lots (260 shares or ₹187,200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 20 | ₹14,400 |
| Maximum | 13 | 260 | ₹187,200 |
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