Glenmark Life Sciences IPO: Issue Date; Price Band, Allotment Date, Listing Date – All IMPORTANT details here
If you are interested in the Glenmark Life Sciences IPO, here is what you must know about the issue – including allotment, listing, refund initiation and also transfer to the demat account. GLS is a pharma company which manufactures Active Pharmaceutical Ingredients (APIs)
Retail Investors looking to invest in an Initial Public Offering (IPO) now have a few opportunities in the form of Glenmark Life Sciences Limited (GLS) which will open on 27 July 2021 (Tuesday) and will end on 29 July (Thursday). Two more IPOs are in the pipeline one is the Rolex Rings Limited and the other is Rex Pipes & Cables Industries Limited which are likely to open on 28 July. While the former is expected to end on 30 July, the latter is expected to close on 2 August.
The information on the Rolex Rings IPO and Rex Pipes is yet to be put on the NSE and BSE website.
See Zee Business Live TV Streaming Below:
Meanwhile, if you are interested in the Glenmark Life Sciences IPO, here is what you must know about the issue – including allotment, listing, refund initiation and also transfer to the demat account.
GLS is a pharma company which manufactures Active Pharmaceutical Ingredients (APIs).
Glenmark Life Sciences will utilise the net proceeds from the fresh issue towards “payment of outstanding purchase consideration to the Promoter for the spin-off of the API business from the Promoter into the Company pursuant to the Business Purchase Agreement dated October 9, 2018,” the company said in the release.
The proceed of fresh issues will also be used for funding the capital expenditure requirements and general corporate purposes, it further said.
Glenmark Life Sciences Limited Initial – About the IPO
- The Price Band of the offer has been fixed at Rs 695 to Rs 720 per equity share.
- Bids can be made for a minimum of 20 equity shares and in multiples of 20 equity shares thereafter.
- The offer consists of equity shares of face value of Rs 2 each of Glenmark Life Sciences Limited
- The issue comprises a fresh issue of equity shares aggregating to Rs 1060 cr of the fresh issue and an Offer For Sale (OFS) of up to 6.3 million equity shares by Glenmark Pharmaceuticals Limited (Promoter or Promoter Selling Shareholder).
- Issue Type - This Offer is being made through a Book Building Process.
- 15 per cent of the offer will be available for allocation to Non-Institutional Bidders
- 35 per cent of the offer shall be available for allocation to Retail Individual Investors.
The Global Co-ordinators and Book Running Lead Managers (BRLM) to the offer include Kotak Mahindra Capital Company Limited, BofA Securities India Limited and Goldman Sachs (India) Securities Private Limited.
DAM Capital Advisors Limited (Formerly known as IDFC Securities Limited), BOB Capital Markets Limited and SBI Capital Markets Limited are the BRLM to the offer.
The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on BSE and NSE.
List of Dates - from allotment to listing:
- Issue closes on 29 July
- Finalisation of basis of allotment likely on 04 August
- Initiation of refunds likely on 5 August
- Transfer of shares to demat account 6 August
- Listing date likely on 9 August
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.