Glenmark Life Sciencesâ Rs 1,600-cr IPO may open next week
Glenmark Life Sciencesâ IPO comprises a fresh issue of Rs 1,160 crore and a sale of 7.3 million shares by promoter Glenmark Pharmaceuticals Glenmark Life Sciences filed for an updated DRHP last week BusinessToday.In
Updated Jul 19, 2021, 9:44 AM IST
Glenmark Life Sciences (GLS), a unit of Glenmark Pharmaceuticals is among a long list of companies queuing for an initial public offering. The company filed for an updated draft red herring prospectus (DRHP) last week. GLSâ Rs 1,600-crore IPO is likely to be launched later in July.
While Glemark has not officially said anything on the matter, sources told The Economic Times that they are aiming to hit the primary markets next week.
Glenmark Life Sciences IPO likely to open next week Check details
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Glenmark Life Sciences Ltd files DRHP with SEBI for IPO
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Glenmark arm files IPO papers with SEBI
April 17, 2021
Plans to sell over 73 lakh shares via Offer For Sale
Glenmark Life Sciences Limited, a wholly-owned subsidiary of Glenmark Pharmaceuticals Limited, has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offer.
The company plans to raise ₹1,160 crore with an Offer For Sale of up to 7,305,245 equity shares of ₹2 each of Glenmark Life Sciences Limited. The board of directors of Glenmark Pharmaceuticals Limitedon Friday approved the OFS.
Glenmark Pharma holds 100 per cent stake in Glenmark Life Sciences, which is primarily into manufacturing and marketing of Active Pharmaceutical Ingredients (APIs). It has a product portfolio of more than 130 APIs and a catalogue of over 270 inventions. The firm, which supplies APIs to more than 700 customers across 65 countries, also develops 10-12 new products every year. Glenmark Life Sciences has manufacturing operations in Gujara