Glenmark Life Sciences IPO: The issue of active pharma ingredients company Glenmark Life Science is about to launch next week. If you are preparing for investment, then let’s know its special things. The company’s issue will open on July 27 and close on July 29.
Glenmark Life Sciences will issue a fresh issue of Rs 1060 crore and 63 lakh shares will be sold in the offer for sale.
The company’s issue will open on July 27 and close on July 29. If the company raises funds through anchor investors, the anchor book will open on July 26.
The price band of Glenmark Life Science is Rs 695-720. According to the lower price band, the company can raise Rs 1497.85 crore. Whereas according to the higher price band, the company will raise Rs 1513.6 crore.
Where will the funds be used
Glenmark Life Science will use this fund to clear the outstanding amount that it spent on demerging the API business. In this, the company will spend Rs 800 crore while Rs 152.76 crore will be spent in the day-to-day functioning of the company.
Lot Size and Reserve Portion
If you want to invest in Glenmark Life Science IPO, then you have to bid for at least 20 shares. Retail investors will have to invest at least Rs 14,400. While the maximum investment of retail investors can be Rs 1,85,299. Retail investors cannot invest more than Rs 2 lakh in any IPO.
50 per cent of the company’s issue is reserved for qualified institutional buyers, 15 per cent for non-institutional buyers and 35 per cent for retail investors.
company balance sheet
Glenmark Life Sciences had a profit of Rs 351.58 crore in the fiscal year 2021. The company’s income during this period was Rs 1885.16 crore. A year before this, in the fiscal year 2020, the company’s profit was Rs 313.09 crore and income was Rs 1537.31 crore. Whereas a year before this i.e. in the fiscal year 2019, the company’s profit was Rs 195.59 crore and income was Rs 886.42 crore.
Glenmark Pharma’s API manufacturing business was demerged in 2019 to enable Glenmark Life to conduct its operations better. Now Glenmark Life’s focus is more on the API business.
As of March 2021, Glenmark Life has 120 molecules in its portfolio. The company sells APIs in India and exports APIs to Europe, North America, Latin America, Japan and the rest of the world.
The company is in a leadership position in Select High Value, APIs used in the treatment of chronic diseases.
Promoter and Management
Glenmark Pharma is the promoter company of Glenmark Life. The promoter company holds 100 per cent stake in Glenmark Life.
Glenn Saldanha is the chairman and non-executive director of the company. He holds a Bachelor’s degree in Pharma Science from Bombay University. He holds a master’s degree in business administration from the Leonard N. Stern School of New York University.
VS Money is the non-executive director of the company. He is a qualified CA. Prior to joining the company, he was President (Finance) of Indian City Developers.
Allotment and listing date
The allotment of shares of Glenmark Life will take place on August 3. If you are not able to get the shares then your money will be returned on 4th August.
Those who will get the shares of Glenmark Life, it will start showing in their demat account on 5th August. The listing of its shares in the stock market will take place on 6 August. The company’s shares will be listed on BSE and NSE.
The book running lead managers to the issue of the company are Kotak Mahindra Capital Company, BofA Securities India and Goldman Sachs (India) Securities. While DAM Capital Advisors, BOB Capital Markets and SBI Capital Markets are the book running lead managers of the offer.
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