Glenmark Life Sciences IPO opens for subscription – Times of India
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NEW DELHI: Active pharmaceutical ingredient manufacturer Glenmark Life Sciences‘ Rs 1,514 crore ($203.65 million) initial public offering is now open for subscription. The issue, with a price band of Rs 695-720 a share, will conclude on July 29.
Glenmark Life Sciences on Monday said it has raised Rs 454 crore from anchor investors ahead of its initial share sale.
The company has decided to allocate 63,06,660 equity shares to 19 anchor investors at Rs 720 a share, aggregating to Rs 454 crore, according to a regulatory filing.
HSBC Global Investment Funds, Government Pension Fund Global, Oaktree Emerging Markets Equity Fund LP, Copthall Mauritius Investment Ltd -ODI account, Societe Generale-ODI, Kuber India Fund and Reliance General Insurance Company are among the anchor investors.
Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, is a leading developer and manufacturer of select high value, non-commoditised 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.
Half of the total issue has been reserved for qualified institutional buyers, 35 per cent for retail investors, and remaining 15 per cent for non-institutional investors.
Goldman Sachs (India) Securities Private Limited, SBI Capital Markets, Kotak Mahindra Capital Company, BofA Securities India Ltd, DAM Capital Advisors Ltd and BoB Capital Markets are the lead managers to the issue.
The equity shares of the company will be listed on BSE and NSE.
(With inputs from agencies)
Glenmark Life Sciences on Monday said it has raised Rs 454 crore from anchor investors ahead of its initial share sale.
The company has decided to allocate 63,06,660 equity shares to 19 anchor investors at Rs 720 a share, aggregating to Rs 454 crore, according to a regulatory filing.
HSBC Global Investment Funds, Government Pension Fund Global, Oaktree Emerging Markets Equity Fund LP, Copthall Mauritius Investment Ltd -ODI account, Societe Generale-ODI, Kuber India Fund and Reliance General Insurance Company are among the anchor investors.
Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, is a leading developer and manufacturer of select high value, non-commoditised 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.
Half of the total issue has been reserved for qualified institutional buyers, 35 per cent for retail investors, and remaining 15 per cent for non-institutional investors.
Goldman Sachs (India) Securities Private Limited, SBI Capital Markets, Kotak Mahindra Capital Company, BofA Securities India Ltd, DAM Capital Advisors Ltd and BoB Capital Markets are the lead managers to the issue.
The equity shares of the company will be listed on BSE and NSE.
(With inputs from agencies)
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