Glenmark Life Sciences IPO Details, Price Band, Lot Size, Issue Size, Financials, Strength, and Analysis
Glenmark IPO will open in this coming week. The Rs. 1,513 Cr. IPO open for subscription on 27 July to 29 July, here some key points to know before subscribing the Glenmark Life Sciences IPO.
Glenmark Life Sciences IPO Details, Public issue, Price Band, Strengths, Financials, and Analysis.
Glenmark Life Sciences Ltd. is a subsidiary of Glenmark Pharmaceuticals Ltd. (an Indian pharmaceuticals company headquartered in Mumbai, India). The company is a leading manufacturer of high-quality active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including CVS, CNS, diabetes, pain management, gastrointestinal, and anti-infectives.
As of March 2021, the company expand its product offerings and geographic reach customer experience presence in markets like North America, Asia, the United Kingdom, Latin America, Europe, and the rest of the world. Life Sciences had a strong portfolio of 120 molecules and APIs, work with the top 16 largest generic companies globally.
As of December 2020, GLS has 4 manufacturing operations at Ankleshwar and Dahej in Gujrat and Mohol and Kurkumbh in Maharashtra with world-class research capabilities and manufacturing. With an annual production capacity of over 550 MT, Life Sciences supply high-value APIs to more than 500+ pharma companies in multiple countries.
Glenmark Life Sciences issues shares worth ₹ 1,513.60 Crore in which fresh issue shares worth ₹ 1,060 crores and while the remaining ₹ 453.60 crores is an offer for sale by promotors of Glenmark Pharmaceuticals. You can apply bid from 27 to 29 July 2021.
Glenmark Life Sciences IPO Details –
Glenmark Life Sciences IPO Issue Size –
| Public Issue | Amount in INR |
|---|---|
| Total Issue Size | ₹ 1,513.60 Crore |
| Fresh Issue | ₹ 1,060 Crore |
| Offer for Sale | ₹ 453.60 Crore (63 lakh equity shares) (by promotors of Glenmark Pharmaceuticals) |
Glenmark Life Sciences IPO Lot Size –
| Lots | Shares | Total Amount |
|---|---|---|
| Minimum Lot – 1 | 20 | ₹ 14,400 |
| Maximum Lot – 13 | 260 | ₹ 187,200 |
The minimum lot size of Glenmark Life Sciences IPO is 20 shares, and retail/individual investors can apply up to 13 lots (260 shares at an amount of ₹ 187,200).
Other Details –
| IPO Price | ₹ 695 to ₹ 720 per equity share |
| Face Value | ₹ 2 per equity share |
The company plan to raise ₹ 1,497.85 crores at the lower end of the price end, and at the higher end ₹ 1,513.6 crores.
Glenmark Life Sciences IPO Dates
| IPO Open Date | 27 July 2021 |
| IPO Close Date | 29 July 2021 |
| IPO Allotment Date | 03 Aug 2021 |
| Amount Refund Date | 04 Aug 2021 |
| Shares credit to Demat Account | 05 Aug 2021 |
| IPO Listing Date | 06 Aug 2021 |
Shares Reserved for Category –
| Qualified International Buyer (QIB) | 50 % |
| Non-institutional investors (NII) | 15 % |
| Retail Investors (RI) / Individual | 35 % |
Obejective of the Issue –
Glenmark Life Sciences will utilize the net proceeds from the IPO for –
- Make payments of purchase consideration to the promotor for the spin-off of the API business from the promoter into the company.
- Finance capital expenditure requirements.
- General corporate purposes.
Glenmark Life Sciences Financials –
The pharmaceuticals ingredients company Glenmark Life Sciences reported a profit of ₹ 351.58 crores in the financial year March 2021 over from a profit of ₹ 313.09 crores in the previous year. Revenue increases ₹ 1,885.97 Crores (in FY21) from ₹ 1,549.30 Crores (in FY20), the total assets of the company also increases from ₹1,725.60 crores (in FY 2020) to ₹1,997.07 crore in FY2021.
Glenmark Life Sciences Promotor and Management –
The promotor of the company is Glenmark Pharmaceuticals Ltd., 100% pre-issue holding and 82.54% post-issue holding.
- Mr. Glenn Saldanha – MD and Chairman of Glenmark pharmaceuticals and Non-Executive Director of the Life Sciences.
- Mr V S Mani – Non-Executive Director.
- Dr. Yasir Y. Rawjee – MD and CEO of the GLS.
- Mr. Bhavesh Pujara – Senior VP and CFO of the company.
- Mr. Sumantra Mitra – Executive Director and VP – HR.
- Dr. Palle V R Acharulu – Group VP of the R&D.
- Mr. Vinod Naik – Group VP and Head Technical Operations.
- Independent Director – Mr. Sridhar Gorthi, Ms Manju Agarwal, Mr. T L Easwar, and Ms. Gita Nayyar.
Company Strengths –
- Leading developer and manufacturer of selective high quality active pharmaceuticals ingredients (APIs) in chronic therapeutic areas.
- Strong team management with experienced promoter.
- Global market presence exporterd APIs to more than 500+ pharma companies in multiple countries.
- Good track record of strong financial performance over the years.
- Good realtions with leading global generic companies.
Global Co-ordinators and Book Running Lead Managers
- Kotak Mahindra Capital Comapny Ltd.
- Goldman Sachs (India) Securities Pvt. Ltd.
- BofA Securities India Ltd.
- SBI Capital Markets Limited
- DAM Capital Advisors Ltd.
- BOB Capital Markets Ltd.
Glenmark Life Sciences IPO Registrar –
Kfin Technologies Private Limited (Kfintech)
Glenmark Life Sciences IPO GMP Rates (Grey Market Premium)
| Date | GMP |
|---|---|
| 25 July | ₹ 200 |
| 24 July | ₹ 200 |
Glenmark IPO expected return is 25 %
The IPO of active pharmaceuticals ingredients manufacturer Glenmark Life Sciences proposed to be listed on BSE and NSE, and the company has received approval from BSE and NSE for the listing of the equity shares.
