Glenmark Life Sciences on Wednesday stated it has fastened a price band of Rs 695-720 a share for its preliminary share-sale. The three-day preliminary public supply (IPO) will open on July 27 and conclude on July 29, the corporate stated in a press release.
The public concern could have a recent concern of fairness shares value up to Rs 1,060 crore and sale of up to 63 lakh fairness shares by Glenmark Pharma.
Proceeds from the recent concern shall be used in the direction of the fee of excellent buy consideration to the promoter for the spin-off of the API enterprise and for funding the capital expenditure necessities. At the higher finish of the price band, the IPO will fetch Rs 1,513.6 crore.
Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, is a number one developer and producer of choose excessive worth, non-commoditized lively pharmaceutical components (APIs) in persistent therapeutic areas, together with heart problems, central nervous system illness, ache administration and diabetes.
The firm additionally manufactures and sells APIs for gastro-intestinal issues, anti-infectives and other therapeutic areas. Half of the whole concern has been reserved for certified institutional patrons, 35 per cent for retail traders, and remaining 15 per cent for non-institutional traders.
Goldman Sachs (India) Securities Private Limited, SBI Capital Markets, Kotak Mahindra Capital Company, BofA Securities India Ltd, DAM Capital Advisors Ltd and BoB Capital Markets are the lead managers to the problem. The fairness shares of the corporate shall be listed on BSE and NSE.
Glenmark Pharmaceuticals Limited is the promoter of the corporate.
Glenmark Life Sciences IPO Lot Size
Glenmark Life Sciences IPO Key Details
|IPO Opening Date||Jul 27, 2021|
|IPO Closing Date||Jul 29, 2021|
|Issue Type||Book Built Issue IPO|
|Face Value||₹2 per fairness share|
|IPO Price||₹695 to ₹720 per fairness share|
|Market Lot||20 Shares|
|Min Order Quantity||20 Shares|
|Listing At||BSE, NSE|
|Issue Size||[.] Eq Shares of ₹2
|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)