Glenmark Life Sciences IPO to open next week - What investors should know

Glenmark Pharmaceuticals on Tuesday said the initial public offering of its subsidiary Glenmark Life Sciences will open on July 27.

On July 19, Glenmark Life Sciences had filed the red herring prospectus for the offer with the Registrar of Companies, Pune and it was taken on record by the ROC the next day, Glenmark Pharma said in a BSE filing.

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The proposed offer will have fresh issue worth up to Rs 1,060 crore and sale of up to 63 lakh equity shares by Glenmark Pharma, it added.

The offer will open on July 27, 2021 and close on July 29, the filing said.

The expected date of listing is August 6, 2021.

Shares of Glenmark Pharmaceuticals settled at Rs 667.90, down 2.05 per cent from the previous close.