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Glenmark Life Sciences IPO share allotment today, listing expected on Aug 6
Glenmark Life Sciences IPO opened for three days last month and was subscribed nearly 45 times. Its price range was at ₹ ₹695-720 per share and the lot size was 20. Ahead of its IPO, Glenmark Life Sciences raised ₹454 crore from anchor investors.
The share allocation in Glenmark Life Sciences IPO will be finalised on Tuesday, Livemint reported. It opened for three days last month and was subscribed nearly 45 times. Its price range was at ₹ ₹695-720 per share and the lot size was 20.
KFintech Private Limited is the registrar of Glenmark Life Sciences IPO and will manage the share allocation. The company's shares are likely to get listed on August 6.
Glenmark Life Sciences, a subsidiary of Glenmark Pharma, plans to raise ₹1,513.6 crore through the public issue which comprised a fresh issue of ₹1,060 crore, and an offer for sale of 63 lakh equity shares by promoter.
The company is a leading developer and manufacturer of select high-value, non-commoditised active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management, and diabetes.
Ahead of its IPO, Glenmark Life Sciences raised ₹454 crore from anchor investors.
News agency PTI reported that to tap a huge investor interest in the healthcare sector, five pharma companies are tapping the IPO market over the next couple of weeks to raise over ₹8,000 crore.
According to data available with the stock exchanges, so far this fiscal, 12 firms have raised ₹27,000 crore from IPOs, and ₹70,000-crore more issues are in the pipeline.
Apart from these pharma firms, Devyani International and and Exxaro Tiles are opening on August 4 and issues from consumer-focused companies like Paytm, Mobikwik, Policybazaar, Cartrade, Delhivery and Nykaa are also expected to be out in the coming months.
