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

Total Assets (in ₹ millions)19,970.7517,256.0414,753.95
Total Revenue (in ₹ millions)18,859.7615,493.038,868.65
Profit After Tax (in ₹ millions)3,515.813,130.981,955.92

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.

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