The company has priced the issue in the range of Rs 1,026-1,080 per share. It mobilised Rs 1,297.9 crore from a clutch of anchor investors including CPPIB, GIC, ADIA, Fidelity, Goldman Sachs and Blackrock
The pharma and healthcare sector presents a study in contrasts in terms of performance, both financially and in the BT500 ranking - Issue Date: Dec 11, 2022
Anand Rathi said Glenmark Life has leadership in select high-value non-commercialized APIs in chronic therapeutic areas. It said the has cost leadership, a strong balance sheet, a growing business, and a high return on net worth (RoNW) of 46.71 per per cent. Add to that are reasonable valuations, which the brokerage said made it suggest a subscribe on the issue.
Geojit Financial Services called the IPO fairly priced and suggested a Subscribe for a long-term basis, considering Glenmark s strong focus on research and development (R&D), its expansion plans, the growth opportunity ahead in CDMO (contract development and manufacturing operations) services and expanding of complex API portfolio.
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