Glenmark Life Sciences IPO – Review, Bid, Size, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Glenmark Life Sciences IPO release date, IPO offer price, subscription, Glenmark Life Sciences Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 2 |
| Price Band | Rs 695 to Rs 720 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 20 Shares |
| Listing Date | Aug 6, 2021 |
| Offer for Sale | Rs 4536 Million |
| Fresh Issue | Rs 10,600 Million |
| IPO Size | Rs 15,136 Million |
| Tick Size | 1 |
Glenmark Life Sciences IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Glenmark Life Sciences IPO – Summary
They are a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (“APIs”) in chronic therapeutic areas, including cardiovascular disease (“CVS”), central nervous system disease (“CNS”), pain management, and diabetes. They also manufacture and sell APIs for gastro-intestinal disorders, anti-infectives, and other therapeutic areas.
their API portfolio comprises specialized and profitable products, including niche and technically complex molecules, which they believe reflects their capability to branch into other high-value products. They have a strong market share in select specialized APIs
The Promoter of this company is Mr. GLENMARK PHARMACEUTICALS LIMITED. The lead manager to the issue is Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Goldman Sachs (India) Securities Private Limited, BOB Capital Markets Limited, SBI Capital Markets Limited and the Registrar to this issue is KFin Technologies Private Limited.
Glenmark Life Sciences IPO Date
The opening and the closing date of the IPO of Glenmark Life Sciences Limited are Jul 27, 2021, and Jul 29, 2021, respectively.
Check out Related IPO Links:
| Glenmark Life Science GMP |
| Allotment – Glenmark Life Science IPO |
Glenmark Life Sciences IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 27 July | 0.00x | 0.86x | 5.17x | 2.78x |
| 2nd Day – 28 July | 1.38x | 3.39x | 9.28x | 5.78x |
| 5th Day – 29 July | 36.97x | 122.54x | 14.63x | 44.17x |
| Shares Offered or Net Issue | 4,242,379 | 3,232,770 | 7,543,130 | 15,018,279 |
The shares subscribed by the public will be updated here.
Check Glenmark Life Sciences IPO LIVE Subscription
- Glenmark Life Sciences IPO LIVE Bid details on BSE
- Glenmark Life Sciences IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Glenmark Life Sciences IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares under the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders according to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Glenmark Life Sciences Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Aug 3, 2021 |
| Refunds Initiation | Aug 4, 2021 |
| Credit of Shares to Demat Account | Aug 5, 2021 |
| Share Listing Date | Aug 6, 2021 |
Glenmark Life Sciences IPO Price Band
The face value of each share is Rs.2, but the price band of the IPO is Rs 695 to Rs 720
Glenmark Life Sciences IPO Equity Size
This Initial Public Issue of X Equity Shares of Rs.2 each for cash at Rs 695 to Rs 720 per equity share aggregating to Rs.15,136 Million.
Glenmark Life Sciences IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.2/ each.
Issue Size: X Equity Shares of Rs.2 each, aggregating to Rs.15,136 Million
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Glenmark Life Sciences IPO – Live Performance
The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Glenmark Life Sciences Share Price |
Glenmark Life Sciences IPO Grey Market Premium
The Glenmark Life Sciences Limited IPO Grey Market Premium price is Rs 90, the Kostak rate is Rs 0 and the Subject to Sauda is 0.
Glenmark Life Sciences IPO – Company Overview
They are a wholly-owned subsidiary of their Promoter, Glenmark Pharmaceuticals Limited (“Glenmark”), a research-oriented, innovation-led, global pharmaceutical company, which was established in 1977 and is listed on the BSE and NSE.
In 2001-2002, Glenmark launched the API manufacturing business by setting up a manufacturing facility in Kurkumbh in the state of Maharashtra, India, and focused on growing this business over the next 18 years.
In 2019, the API manufacturing business of Glenmark was sold and spun off into their Company as part of a broader reorganization designed to place Glenmark on an accelerated trajectory to attain its objectives in three different verticals, with their Company focusing on the API business. Following the Spin-off, they operate as an independent, professionally managed global API business.
They believe that maintaining high standards of process innovation and quality in their R&D and manufacturing operations is critical to their brand and maintenance of long-term relationships with their customers.
Glenmark Life Sciences IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Total Assets | 19,970.75 | 17,256.04 | 14,753.95 |
| *Total Revenue | 18,859.76 | 15,493.03 | 8,868.65 |
| Total Expense | 14,150.32 | 11,282.36 | 6,585.68 |
| Profit After Tax | 3,515.81 | 3,130.98 | 1,955.92 |
Earnings per Equity Share (in Million)
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 32.61 | 29.04 | 24.64 |
Glenmark Life Sciences IPO – Promoters
The Promoter of this company is:
- GLENMARK PHARMACEUTICALS LIMITED
List of Related Parties (Key Managerial Personnel)
- Glenn Saldanha, Chairman, and Non-Executive Director
- V.S Mani, Non-Executive Director
- Yasir Rawjee, Managing Director and Chief Executive Officer
- Sumantra Mitra, Executive Director
- Sridhar Gorthi, Independent Director
Glenmark Life Sciences IPO – Promoters Holding
- Pre Issue Share Holding – NA %
- Pos Issue Share Holding – NA %
Glenmark Life Sciences IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.15,136 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding before the Issue | 10,78,04,950 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Glenmark Life Sciences IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Payment of outstanding purchase consideration to the Promoter for the spin-off of the API business from the Promoter into their Company according to the Business Purchase Agreement
2. Funding capital expenditure requirements
3. General corporate purposes
Glenmark Life Sciences IPO – Business Strategy
- Any manufacturing or quality control problems may subject them to regulatory action, damage their reputation, and have an adverse effect on their business, results of operations, financial condition, and cash flow
- The loss of one or more of their key customers, the deterioration of their financial condition or prospects, or a reduction in their demand for their products.
- In the event, their API business or products in specific therapeutic categories or their products do not perform as well as expected or if substitute products become available or gain wider market acceptance.
- Slowdown or shutdown in their manufacturing operations.
- Delay, interruption, or reduction in the supply of raw materials to manufacture their products.
- Pricing pressure from customers may affect their gross margin, profitability, and ability to increase their prices.
- Counterparty credit risk and any delay in receiving payments or non-receipt of payments.
- Failure to obtain, maintain or renew their statutory and regulatory licenses, permits, and approvals required to operate their business.
- Inability to accurately forecast demand for their products and manage their inventory
Glenmark Life Sciences IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager based on the following qualitative and quantitative factors.
Qualitative factors are:
- Leadership in select high value, non-commoditized APIs in chronic therapeutic areas
- Strong relationships with leading global generic companies
- Quality-focused compliant manufacturing and R&D infrastructure
- Strong focus on sustainability in operations
- Cost leadership across products through careful monitoring and continuous effort
- Experienced management team with a proven track record
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 32.61 | 46.71 | 69.82 |
| 31-Mar-20 | 29.04 | 77.94 | – |
| Mar-19 | 24.64 | 99.25 | – |
Glenmark IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS Basic (Rs.) | EPS Diluted (Rs.) |
Return on Net Worth (%) | Total Income (Rs. in Million) | |
| Glenmark Life Sciences Limited | 2 | [●] | 32.61 | 32.61 | 46.71 | 18,859.76 |
| Listed Peers | ||||||
| Divis Laboratories Limited | 2 | 63.65 | 74.75 | 74.75 | 21.35 | 70,319.60 |
| Laurus Labs Limited | 2 | 36.59 | 18.36 | 18.28 | 37.87 | 48,358.60 |
| Shilpa Medicare Limited | 1 | 33.37 | 18.13 | 18.13 | 9.99 | 9,312.72 |
| Aarti Drugs Limited | 10 | 24.28 | 30.09 | 30.09 | 30.70 | 21,593.10 |
| Solara Active Pharma Sciences Limited |
10 | 25.83 | 69.00 | 64.52 | 13.93 | 16,456.50 |
Glenmark Life Sciences IPO Lead Managers
| Lead Managers |
|
Kotak Mahindra Capital Company Limited BofA Securities India Limited Goldman Sachs (India) Securities Private Limited DAM Capital Advisors Limited BOB Capital Markets Limited SBI Capital Markets Limited |
Glenmark Life Sciences IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Private Limited (Formerly known as Karvy Fintech Private Limited) Selenium Tower-B Plot No-31 and 32, Financial District Nanakramguda, Serilingampally Hyderabad, Rangareddi 500032 Telangana, India Tel: +91 40 6716 2222 E-mail: glenmark.ipo@kfintech.com Investor Grievance E-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact Person: M Murali Krishna SEBI Registration No.: INR000000221 |
Glenmark IPO – Other Details
- Statutory Auditor – Walker Chandiok & Co LLP
- Legal Counsel to the Company – Trilegal
- Bankers to the Company – Bank of Baroda, and State Bank of India
Glenmark IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Glenmark Life Sciences Limited IPO News
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Glenmark Life Sciences IPO Review FAQs
What is the Issue Size of Glenmark Life Sciences IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Glenmark Life Sciences IPO?
The price band for this particular IPO, i.e. Glenmark Life Sciences IPO ranges between Rs 695 to Rs 720. As far as the face value of the share is of concern, it is Rs.2 per share.
What is the Glenmark Life Sciences IPO Open Date?
The opening and closing dates for Glenmark Life Sciences IPO have been updated. The IPO is set to open on Jul 27, 2021, while the closing date is set at Jul 29, 2021.
What is the Glenmark IPO Allotment Date?
They also have the news regarding the respective allotment dates of the Glenmark Life Sciences IPO. Basis of Allotment finalization is on Aug 3, 2021, refund initiation is on Aug 4, 2021, credit of shares is on Aug 5, 2021, and share listing date is on Aug 6, 2021.
What is the Glenmark IPO Listing Date?
Shares of Glenmark Life Sciences shall be listed in the exchanges on Aug 6, 2021. The date, when the listing would be done, is stagnant on Aug 6, 2021.
Who is the Registrar of Glenmark IPO?
One of the reputed registrars is managing the issue of Glenmark Life Sciences IPO, i.e. KFin Technologies Private Limited. their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Glenmark IPO?
Here are the promoters of Glenmark Life Sciences – GLENMARK PHARMACEUTICALS LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Glenmark Life Sciences IPO?
They have obtained the GMP of Glenmark Life Sciences IPO and it is Rs 90. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Glenmark IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Glenmark Life Sciences?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is 3,515.81, 2020 is 3,130.98, 2019 is 1,955.92.
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