Glenmark Life Science Ltd. is a subsidiary company of Glenmark Pharmaceuticals Ltd. Thus, a leading company in the development and manufacturing of Active Pharmaceutical Ingredients (APIs). Furthermore, the company is ready to open for a subscription with a price bracket of Rs. 695 to Rs.720 on 27th July 2021
Glenmark Life Science Ltd is a company incorporated in the year 2011 and ready to serve its business thereafter. Moreover, the company engages in delivering supreme quality APIs for various diseases like central nervous system cardio-vascular diseases, ache management, gastro-intestinal ailments, and several other healing areas.
Furthermore, the company is bound to sell their goods in India as well as other countries like Latin America, North America, Europe, Japan, etc.
At the moment, the company has two manufacturing facilities with annual storage of 725.8 KL at Dahej and Ankleshwar in Gujarat & Kurkumbh and Mohol in Maharashtra.
Let’s have a detailed view of Glenmark Life Science IPO:
Promoters of the Company
Glenmark Pharmaceutical Ltd. is a promoter of the company.
Issuance of Shares
Issue size: Rs.1,513.60 crore
Face value: Rs.2 per equity share
Listing At: BSE & NSE
The Objective of the Issuance of Shares
- Providing funds to meet the capital disbursement requirements
- To meet general corporate purposes
- To make the payment of outstanding purchase consideration to the promoter for the spin-off of the API business from the promoter into our company pursuant to the Business Purchase Agreement
IPO Share Price
The company decides the price band at Rs. 695 to Rs.720 per equity share.
Retailers Reserved Lot size
Up to 13 lots i.e. 260 shares which makes a total of Rs. 187,200 are valid for subscription, in the case of the retail individual investors.
IPO Opening and Closing date
The Glenmark Life Science IPO is likely to open for subscription on 27th July 2021 and will close on 29th July 2021.
Lot size and Minimum number of shares
Each lot size includes a total of 20 shares. Therefore, an investor should subscribe for a minimum count of 20 shares only.
Allotment of Shares
The allotment of shares will be done on 03rd August 2021. Moreover, the shares tend to allot will get transfer to your Demat account by 05th August 2021.
IPO listing date
The IPO listing date of Glenmark Life Science is yet to decide. Moreover, the expected date may be 06th August 2021.
Trendy Analysis
Glenmark Life Science is a prominent pharmaceutical company producing Active Pharmaceutical Ingredients for various therapeutic areas. Consequently, the company shows a strong balance sheet and clearly justifies a track record of rising company. Moreover, looking into the financial stability, it is worthy enough to subscribe.