IPO Alert: Glenmark Life Sciences

Glenmark Life Sciences is launching its IPO. The public offer comprises a fresh issue of equity shares worth Rs. 1,160 crores and offer for sale of 63 lakh equity shares by its parent company Glenmark Pharmaceuticals Ltd.

About the company:

Glenmark Life Sciences is a leading developer and manufacturer of Active Pharmaceutical Ingredients (APIs) catering to chronic therapeutic areas such as cardiovascular disease, central nervous system disorders, pain management, and diabetes, among others. As of December 31, 2020, the company had a portfolio of 120 molecules globally and sold its APIs in India as well as to multiple countries in Europe, North America, Latin America, Japan, and the rest of the world.

Financial Snapshot

Financial Year Ended Revenue (₹ Crores) PAT (₹ Crores) EPS (₹)
March 2019 886.87 195.59 24.64
March 2020 1,549.30 313.10 29.04
March 2021 1,885.98 351.58 32.61

Competitive strengths

  • Leading manufacturer of selected specialized APIs for chronic therapeutic areas like CVS, CNS, diabetes, and pain management.
  • Export products in Europe, Latin America, North America, Japan, and the rest of the world.
  • Strong relationship with leading global generic companies.
  • Proven track record of strong financial performance.
  • High-quality product manufacturing with R&D infrastructure.

Company Promoters:

Glenmark Pharmaceuticals Limited is the promoter of the company.

Objects of the Issue:

  • To make payment of outstanding purchase consideration to the promoter for the spin-off of the API business from the promoter into the company.
  • To finance capital expenditure requirements.
  • To meet general corporate purposes.

Important Dates:

Issue Open Date : 27th July 2021 at 10 AM
Issue Close Date : 29th July 2021 at 5 PM
IPO Listing Date: 6th Aug 2021

Amount needed to apply

Price Band: Rs 695 to Rs 720
Lot Quantity: 20 shares per lot
For individual retail investor, you can not apply for less than 1 lot. You can set the bid price within the band.
Amount Needed: Rs 14,400 per lot (assuming you apply for 1 lot at cut-off price of Rs 720 per share)

How to apply?

  1. You can apply for Glenmark Life Sciences IPO from IPO section within Niyo Money app. If you have not opened the Stocks & ETFs account already on Niyo Money, hurry up and open Stocks & ETFs account to access this feature.
  2. IPO application is a ASBA application using UPI mandate. You need to have an NPCI approved UPI handle which can process UPI mandate requests,

If you have the above things ready, you can apply for IPO on 27th July.

Disclosure: This is not a recommendation for subscribing to the IPO. The purpose is just to educate customers on the upcoming IPO.

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