The allotment date of the shares of Glenmark Life Sciences Limited (GLS) is nearing. As per the information on this IPO’s registrar KFin Technologies Private Limited, the finalisation of allotment is likely to get completed on 4 August. All those investors who have subscribed this issue can check allotment by following these simple steps through direct links of the registrar or via BSE.  

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The name of registrar of this issue is KFin Technologies Private Limited - https://ris.kfintech.com/ipostatus/ipos.aspx    

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https://ris.kfintech.com/ipostatus/ipos.aspx   

2) Select the IPO from the drop down.      

3) Now select application number/DPID/Client ID/PAN   

4) Enter application number followed by Captcha code   

5) Now Click at 'Submit' option and your IPO application status will become available on your computer monitor or Smartphone screen.   

Glenmark Life Sciences Limited IPO allotment status check at BSE website     

1) Login at the direct BSE link — bseindia.com/investors/appli_check.aspx    

2) Now Select 'Equity' and enter the ssue name      

3) Enter application number and PAN number     

4) Click at the box opposite "A'm not a robot'   

 5) Click at 'Search' option; and your IPO application status will become available  

The issue ended on 29 July. The initiation of refunds is likely on 5 August. The transfer of shares to demat account likely on 6 August and listing of stock likely on 9 August   

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 a release.    

The proceed of fresh issues will also be used for funding the capital expenditure requirements and general corporate purposes.