Glenmark IPO: Another investment opportunity, Glenmark Life Sciences IPO opens, know the issue price
ipo market There is a lot of commotion in me right now. One after the other companies are entering the primary market. Even today an IPO has opened, which is being discussed. The initial public offering (IPO) of Glenmark Life Sciences, a subsidiary of the big pharma company, Glenmark Pharmaceuticals, is opening from Tuesday i.e. today.
Glenmark Pharma has told in the information sent to BSE that Glenmark Life Sciences had submitted documents for this to the Registrar of Companies, Pune on July 19. The Registrar of Companies took it on record the next day. Under the proposed offer, new shares worth Rs 1,060 crore will be issued. On the other hand, Glenmark Pharma will bring an offer for sale (OFS) of 63 lakh equity shares. The IPO will open from today and close on July 29.
The company has told the stock exchange that it will meet the capital expenditure requirements and general corporate purposes from the funds raised from this IPO. At the same time, money will be paid to the promoters for the spin-off of the API business. Ahead of the IPO, Glenmark Life Sciences has raised Rs 454.32 crore from 19 anchor investors.
Explain that Glenmark Life Sciences is the API of Glenmark Pharmaceutical, ie active pharmaceutical ingredients business. Its portfolio comprises more than 120 products and the company exports its products to Europe, North America and Latin America as well.
Kotak Mahindra Capital, BofA Securities, Goldman Sachs, DAM Capital, SBI Capital and BoB Capital are its investment bankers, while KFintech is the registrar.