INSUBCONTINENT EXCLUSIVE:
Ahead of the IPO, Glenmark Life Sciences raised Rs 454 crore from anchor investorsThe shares of Glenmark Life Sciences, which is the
subsidiary of Glenmark Pharmaceuticals, will list on the bourses tomorrow i.e
The Rs 1,513 crore going public (IPO), which was open between July 27 and July 29, was subscribed as much as 44.17 times
The IPO comprised a fresh problem of Rs 1,060 crore and an offer-for-sale of Rs 453.60 crore by the promoters
The shares were offered in the rate band of Rs 695-720 per share.Ahead of the IPO, Glenmark Life Sciences raised Rs 454 crore from anchor
investors.Glenmark Life Sciences will utilise the earnings from the fresh issue to pay the promoter for spin-off of the API business and to
fund its capital investment requirements.Glenmark Life Sciences was integrated in the year 2011
It is the API (active pharmaceutical active ingredients) subsidiary of Glenmark Pharmaceuticals
It has more than 120 items in its portfolio and exports APIs to multiple nations in Europe, North America and Latin America.Kotak Mahindra
Capital, BofA Securities, Goldman Sachs, DAM Capital, SBI Capital and BoB Capital are the investment lenders to the public concern, whereas
KFintech is the registrar to the issue.Brokerage company Anand Rathi had actually given a 'Subscribe' score to the Glenmark Life Sciences
IPO, saying the business had leadership in choose high-value non-commercialized APIs in persistent therapeutic locations, strong management
