Glenmark Life Sciences Limited IPO – Retail investors GUIDE – price band, min order quantity, max subscription amount, timings – issue opens 27 July

The Initial Public Offering (IPO) Glenmark Life Sciences Limited (GLS) will open on 27 July 2021 (Tuesday) and will end on 29 July (Thursday). GLS is a pharma company which manufactures Active Pharmaceutical Ingredients (APIs). Investors must know that 35 per cent of the offer shall be available for allocation to Retail Individual Investors.

The minimum order quantity is 20 shares for retail individual investors (RIIs). The maximum subscription amount is Rs 2 lakhs.

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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 the release. 

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 Initial – Key Highlights  

1. The Price Band of the offer has been fixed at Rs 695 to Rs 720 per equity share. 
2. Bids can be made for a minimum of 20 equity shares and in multiples of 20 equity shares thereafter. 
3. The offer consists of equity shares of face value of Rs 2 each of Glenmark Life Sciences Limited  
4. The issue comprises a fresh issue of equity shares aggregating to Rs 1060 cr of the fresh issue and an Offer For Sale (OFS) of up to 6.3 million equity shares by Glenmark Pharmaceuticals Limited (Promoter or Promoter Selling Shareholder). 
5. Issue Type - This Offer is being made through a Book Building Process. 
6. 15 per cent of the offer will be available for allocation to Non-Institutional Bidders 
7. 35 per cent of the offer shall be available for allocation to Retail Individual Investors. 

The 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. 

DAM Capital Advisors Limited (Formerly known as IDFC Securities Limited), BOB Capital Markets Limited and SBI Capital Markets Limited are the BRLM to the offer. 

The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on BSE and NSE.