Glenmark Life Sciences IPO to open tomorrow: Check price, GMP, lot size & other details

After Zomato's stupendous performance in the Indian capital market, Glenmark Life Sciences’ initial public offering (IPO) is set to open for subscription on Tuesday, July 27. The pharmaceutical firm's Rs 1,514 crore IPO, consists of a fresh issue of Rs 1,060 crore and an offer for sale (OFS) of up to Rs 453 crore from existing shareholders.

The Mumbai-headquartered company has set a price band at Rs 695- Rs 720 per equity share. The IPO will be live for three days till July. Glenmark Life Sciences is likely to make its debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 6. If you are interested in Glenmark Life Sciences IPO then here are things you should know.

Glenmark Pharmaceuticals's Glenmark Life Sciences IPO: Key points

• Glenmark Life Sciences is a subsidy of Glenmark Pharmaceuticals.
• Kotak Mahindra Capital, Goldman Sachs, SBI Capital, BofA Capital, BoB Capital and DAM Capital are the investments bankers to the GLS IPO.
• KFintech is the registrar to the Public issue.
• Ahead of Glenmark Life Sciences' IPO, its grey market premium (GMP) on Monday is Rs 210, which is Rs 10 more than its Sunday's GMP of Rs 200.
• GMP of Glenmark Life Sciences: Glenmark Life Sciences IPO GMP suggests that the public issue listing at around 25-30% premium.
• GLS IPO lot size and investment limit. A lot of the IPO consists of 20 shares of the company. A bidder can apply a minimum of one lot, while the maximum limit is 13 lots.
• The share allotment is likely to be finalised on August 3, 2021.
• The Glenmark Life Sciences is expected to be listed on August 6, 2021.

Glenmark Life Sciences is a leading developer and manufacturer of the API (active pharmaceutical ingredients) in chronic therapeutic areas including central nervous system disease, cardiovascular disease, diabetes, anti-infectives gastro-intestinal disorders and pain management. It has over 120 products in its portfolio and exports APIs to several countries in North America, Europe and Latin America.