Glenmark Life Sciences IPO: All you need to know
Glenmark Life Sciences Limited, a subsidiary of Glenmark Pharmaceuticals Ltd., will hit the market on Tuesday, July 27, 2021, to raise Rs 1513.6 crores through an Initial Public Offering (IPO) of its units. The company has set the IPO date as well as the price range at which the shares will be offered for sale. Let’s take a peek at the particulars of the Glenmark Life Sciences IPO.
Glenmark Life Sciences IPO Date & Price Band
| IPO Open: | 27 July 2021 |
| IPO Close: | 29 June 2021 |
| Issue Type: | Book Built Issue IPO |
| Issue Size: | Approx ₹1513.60 Crores |
| Fresh Issue: | Approx ₹1060 Crores |
| Offer for Sale: | Approx ₹453.60 Crores |
| Face Value: | ₹2 Per Equity Share |
| Price Band: | ₹695 – ₹720 Per Equity Share |
| Listing on: | BSE, NSE |
Glenmark Life Sciences IPO Market Lot
| Minimum Lot Size: | Minimum 20 Shares |
| Minimum Amount: | ₹14,400 |
| Minimum Lot Size: | Maximum 260 Shares |
| Minimum Amount: | ₹1,87,200 |
Glenmark Life Sciences IPO Allotment & Listing
| Basis of Allotment: | 03 Aug 2021 |
| Refunds: | 04 Aug 2021 |
| Credit to Demat Account: | 05 Aug 2021 |
| Listing Date: | 06 Aug 2021 |
Financials of Glenmark Life Sciences Limited IPO
| Particulars | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
| Total Assets (in ₹ millions) | 19,970.75 | 17,256.04 | 14,753.95 |
| Total Revenue (in ₹ millions) | 18,859.76 | 15,493.03 | 8,868.65 |
| Profit After Tax (in ₹ millions) | 3,515.81 | 3,130.98 | 1,955.92 |
About Glenmark Life Sciences Limited
Glenmark Life Sciences, founded in 2011, is a major maker of Active Pharmaceutical Ingredients (APIs). APIs for cardiovascular disease (CVD), central nervous system disease (CNS), pain management, diabetes, gastrointestinal diseases, anti-infectives, and other therapeutic fields are developed, manufactured, and supplied by the company. It also provides services to speciality pharmaceutical firms through Contract Development and Manufacturing Operations (CDMO).
Its products are sold in India and also exported to other nations, such as the United States. Europe, North America, Latin America, Japan, and other parts of the world It now operates four manufacturing facilities in Gujarat (Ankleshwar and Dahej) and Maharashtra (Mohol and Kurkumbh), with a total annual installed capacity of 725.8 KL as of December 31, 2020.
Objective of the Issue:
The company plans to use the funds from the IPO for the following purposes:
- To pay the promoter the outstanding purchase price for the spin-off of the API business from the promoter into the corporation.
- To meet the need for capital expenditures.
- To fulfil general corporate objectives.