Glenmark Life Sciences IPO Allotment finalisation date, application status check online from BSE, Kfintech direct links and more - All details here

BIG DAY on 4 August! The countdown for allotment of the shares of Glenmark Life Sciences Limited (GLS) will likely end today as the allotment process will be completed on 4 August. This is as per the information available on the website of the IPO’s registrar KFin Technologies Private Limited. All those investors who have subscribed this issue can check allotment by following these simple steps through direct links of the registrar. This is how you can do it through the website link https://ris.kfintech.com/ipostatus/ipos.aspx.  

GLS is a pharma company which manufactures Active Pharmaceutical Ingredients (APIs).   

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Glenmark Life Sciences Limited allotment status check at KFintech website    

1) Login at direct KFintech website — 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.   

GR Infraprojects 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. This is as per the information on the Edelweiss App.    

Glenmark Life Sciences Limited IPO - Investor Response   

The issue received tremendous response with the issue getting subscribed over 44 times on the NSE.  The Retail Individual Investors (RIIs) subscribed this issue 14.63 times taking the overall share bids to 110.36 million as against the available 7,543,130 shares.  

The non-institutional investors subscribed 122.54 times. Meanwhile for 42,42,379 shares that are available for the Qualified Institutional Buyers (QIBs), the number of bids received were 156.82 million which was almost 36.97-fold subscription.     

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.