Glenmark Life Sciences Limited IPO: LAST DATE to subscribe today! Check Anil Singhvi's views, Day 2 subscription and all details
Glenmark Life Sciences Limited IPO subscription status: On the second day, Glenmark Life Sciences Limited IPO was subscribed 5.78 times as bids were received for 8,68,07,640 shares as against reserved quota of shares of 1,50,18,279.
The last date to subscribe Glenmark Life Sciences Limited IPO is today, July 29, 2021, The Initial Public Offering of the Pharma firm came on July 27. In the initial two days of opening, the IPO has received overwhelming response from the investors as the issue was subscribed nearly 6 times at the endo of the 2nd day on Wednesday.
See Zee Business Live TV Streaming Below:
Glenmark Life Sciences Limited IPO Day 2 subscription details
On the second day, Glenmark Life Sciences Limited IPO was subscribed 5.78 times as bids were received for 8,68,07,640 shares as against reserved shares of 1,50,18,279. The issue was subscribed over 2 times on Day 1. Maximum participation at 9.28 times subscription came from Retail Individual Investors (RIIs), followed by Non-Institutional Investors (3.39 times) and Qualified Institutional Buyers (QIBs) (1.38 times. )
Glenmark Life Sciences Limited IPO key details
Glenmark Life Sciences Limited IPO opened for subscription on Monday, July 27, 2021, and will be closed today, Thursday, July 29, 2021. The IPO of the pharma company kicked off to a good start as the issue was fully subscribed around 12 pm. 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 is 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 by retail individual investors (RIIs) for Glenmark Life Sciences Limited IPO is Rs 13,900, while maximum purchase limit on UPI is Rs 2 lakh per transaction
What Anil Singhvi said about this issue
Earlier, Zee Business Managing Editor Anil Singhvi has suggested to apply for this IPO with a long-term perspective as it is a portfolio quality stock. "The valuations of the company are reasonable — neither cheap nor attractive and hence the listing of the company would also be marginal and satisfactory. The listing wouldn’t be below IPO price nor spectacular or bumper, perhaps," Anil Singhvi had said.
Objective of this IPO
As per the company, the objective of Glenmark Life Sciences is 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 proceed of fresh issues will also be used for funding the capital expenditure requirements and general corporate purposes, it further said.
Glenmark Life Sciences Limited IPO global Co-ordinators and Book Running Lead Managers
Glenmark Life Sciences Limited IPO global Co-ordinators and Book Running Lead Managers (BRLM) to the offer include Kotak Mahindra Capital Company Limited, BofA Securities India Limited and Goldman Sachs (India) Securities Private Limited.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
09:22 AM IST