The initial public offer (IPO) of Glenmark Life Sciences limited has opened for its subscription on Tuesday, July 27. The subscription has been opened at a price band of Rs 695 to Rs 720 per share and it is looking forward to raising more than 1,500 crores from subscriptions.
A subsidiary of Glenmark Pharmaceuticals, Glenmark Life Sciences is providing an initial public offering (IPO) on Tuesday. Glenmark Life Sciences is a leading manufacturer of high-value pharmaceutical ingredients for chronic health conditions.
As announced by Glenmark Life Sciences, initial public offerings will open its subscription from today, 27 July, and will close on Thursday, 29th July 2021.
According to the company, the subscription aims to raise more than 15 crores with the help of a fresh issue of equity shares of Rs 1,060 core. Furthermore, the company is also offering a sale of up to 63 lakh equity shares with an issue size of 1,513.6 crores.
The company analysts have a positive approach to the IPO and are expecting a good performance through the subscriptions. Also, the research teams at different shareholders have recommended subscribing to the offer.
Investors who are willing to subscribe to the new IPO can start subscribing from today onwards. They can bid in a lot of 20 to 30 shares and multiples. The shares will be listed on both BSE as well as National Stock Exchange. Also, it is noted that the cut-off time for UPI mandate confirmation will be till Friday, July 30 up to 12 noon. Anyone failing to do so by the time will not be considered.