Glenmark Life Sciences IPO listing TODAY: Premium, LISTING GAIN, upside?—What to expect? Check Anil Singhvi's views

Glenmark Life Sciences IPO listing date is today, August, 6, 2021. The shares of Glenmark Life Sciences IPO will be listed on both NSE and BSE. The IPO has received good response with the issue getting subscribed 44.17 times on the last day of bidding.   

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Glenmark Life Sciences Limited IPO Basic Details 

Glenmark Life Sciences Limited IPO comprises fresh issue of equity shares worth Rs 1,060 crore and an offer for sale by existing shareholders worth Rs 453 crore, totaling Rs 1513.60 crore. Glenmark Life Sciences Limited IPO price band was kept at Rs 695 to Rs 720 per equity share and IPO lot size comprises 20 equity shares and in multiples of 20 equity shares thereof.  Minimum investment required for Glenmark Life Sciences Limited IPO is Rs 13,900, while maximum purchase limit on UPI is Rs 2 lakh per transaction, as per the company DRHP (Detailed Red Herring Prospectus). Source: PTI 

Glenmark Life Sciences Limited IPO listing gain: Anil Singhvi's take 

Talking about Glenmark Life Sciences Limited IPO listing gain, Zee Business Managing Editor and market guru Anil Singhvi had said that the Glenmark Life IPO is neither cheap nor costly in terms of valuations, however, the issue price could have been lower than Rs 720 per share. "The listing of the company on the bourses will be satisfactory, neither bumper nor less than the issue price and suggests investors to apply for this stock with a long-term perspective for good returns.  

Glenmark Life Sciences Limited Company details  

Glenmark Life Sciences Ltd is a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (“APIs”) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management and diabetes. The Company also manufactures and sells APIs for gastro-intestinal disorders, anti-infectives and other therapeutic areas. Source: Pixabay 

Glenmark Life Sciences Limited IPO objective  

Glenmark Life Sciences intends to 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