Glenmark Life Sciences IPO Allotment, Share Price, Listing Date

Glenmark Life Sciences is a subsidiary of Glenmark Pharmaceuticals, one of the leading pharmaceutical companies in India. With the Indian pharma industry witnessing significant growth in recent years, the Glenmark Life Sciences IPO is expected to generate a lot of interest among investors. In this article, we will cover Glenmark Life Sciences IPO allotment and share price.

Glenmark Life Sciences IPO Allotment, Share Price, Listing Date

Glenmark Life Sciences is a company that is in the API business. Now since their business was relevant to the pandemic it was boosted by the virus.

On the back of this, the company announced that it would be heading to the stock market as they plan to become a public company and want to get listed. They wanted to get listed on both NSE and BSE.

The application date for the IPO was valid from 27th July 2021 to 29th July 2021. Once the applications would come in the company would then proceed with the following process of allotting the shares, giving away refunds, crediting shares to Demat accounts, and finally getting listed.

All this took place on the 3rd, 4th, 5th, and 6th of August respectively. This means that Glenmark Life Sciences IPO allotment day fell on the 3rd of August 2021.

About Glenmark Life Sciences

Incorporated in 2011, Glenmark Life Sciences is a leading developer and manufacturer of Active Pharmaceuticals Ingredients. They don’t just make high-quality drugs but they do so by unlocking scientific possibilities.

The company has over 137 APIs in its portfolio and they work with 16 of the largest 20 generic companies globally. The company supplies these high-quality APIs to no less than 700 pharma companies in multiple countries.

The company is driven by research and development and is invested in not just focusing on existing products but also constantly looking at areas where there is potential for growth in the future. The company business is present in North America, Europe, Japan, Latin America, India, and ROW at the moment.

Information Glenmark Life Sciences IPO

So we now know Glenmark Life Sciences IPO allotment date and all the other important dates regarding the IPO but we still need to learn quite a few things about this IPO.

The face value of this share was 2 rupees as opposed to the 10 rupee face value that most shares going for IPO have. The price band for each share was set at 695 to 720 rupees per share.

Each lot had a total of 20 shares. The total issue size of the IPO totaled 1,513.60 crores of which 1,060 crores worth of shares were for a fresh issue while the remaining shares worth 453.60 crores were up for sale.

The IPO was a book-building IPO and it was carried out to get listed on both the NSE and BSE. 50.23% of total shares were allotted to retail investors, 28.25% of total shares were reserved for QIBs and the remaining 21.53% of total shares were reserved for NIIs.

Together these numbers brought the total to 1,50,18,279 shares.

• Glenmark Life Sciences IPO was subscribed 36.97 times by the QIBs, 122.54 times by the NIIs, and 14.63 times by the employees.
• The company held 100% of shares pre-IPO, however, after IPO this would come down to 82.84% holding.
• A retailer could get a minimum of 1 lot or 20 shares for 14,400 rupees and a maximum of 13 lots or 260 shares for a total of 1,87,200 rupees.
• The IPO was oversubscribed as it had been subscribed a total of 44.17 times.
• The registrar of this IPO was KFin Technologies Limited.

Competitive Strength

It is important to understand how Glenmark Life Sciences IPO stands against its competitors, here are some points that make it unique.

• The company is a leading developer and manufacturer of select high-value and non commoditized APIs in chronic therapeutic areas.
• The company enjoys a good relationship with leading global generic pharmaceutical companies. Their record is 16 out of 20.
• The R&D and manufacturing infrastructure are not only compliant but also focused on quality.
• The company is focused on sustainability and they do so by making meaningful interventions in environment management, taking safety initiatives in operational initiatives, and looking at the occupational health of the workers.
• By carefully applying operation initiatives, sourcing initiatives, and R&D initiatives Glenmark managed to become a cost leader for many of its products.
• The company has a strong management team and experienced promoters.

Risk factors with Glenmark Life Sciences IPO

Along with the benefits, you should also be aware of the risks involved with this IPO, some of which are mentioned below.

• Manufacturing or control problems can lead to regulatory action.
• A significant sum of revenue of the company is concentrated in the hands of a select few clients.
• Though their APIs are vast in number the products exist in a limited number of principal therapeutic categories. And since this makes up a significant part of their revenue it is a risky business.
• Their manufacturing and R&D facilities are located in two states and any problem in either state can cause significant problems to their business.
• If the supply of raw materials is delayed, interrupted, or reduced then the business may be affected hugely.
• Brand name, Trademarks, and logo are all registered in the name of promoters.
• Impact from pricing pressure by customers’ profits, gross margin, and company’s ability to increase prices.
• Various statutory and regulatory licenses, permits, and approvals are needed by the company from the government.
• The company has constant counterparty credit risk.
• The company can’t forecast the demand and so can’t anticipate or manage inventory in advance.

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Subscription Details

In the table given below are all the subscription details of Glenmark Life Sciences IPO.

Events Date

We will now cover all the important dates related to Glenmark Life Sciences IPO including Glenmark Life Sciences IPO listing date.

Glenmark Life Sciences IPO Share Price

So we know that the IPO shares of Glenmark had a face value of 2 rupees each and the band price was set between 695 and 720 rupees per share, however, what is the story after that? What was Glenmark Life Sciences IPO share price once the IPO got listed?

Well the final issue price set for shares on both NSE and BSE was set at 720 rupees. On BSE the share opened at the price of 751.10 rupees per share and on NSE it opened at 750 rupees per share.

During the day the shares hit a low of 737.35 and 738 rupees per share on respective platforms and saw a high of 799.95 and 799 rupees per share on respective platforms. Final trading on both platforms happened at the rate of 748.20 rupees per share and 748.50 rupees per share respectively.

Glenmark Life Sciences IPO Listing Date

As mentioned at the start of the article the whole IPO process of Glenmark Life Sciences went on from July 27th, 2021 to August 6th, 2021.

The IPO applications opened on 27 July and closed at 5 pm on 29th July. Glenmark Life Sciences IPO allotment happened on 3rd August. Since the IPO was oversubscribed, a lottery method took place to decide who got shares and who would miss out on them.

Next up, those that weren’t allowed shares were given refunds on the 4th of August 2021, and on the 5th of August those that got shares saw them being credited to their Demat account.

Lastly, on the 6th of August 2021 fell the important day, which is the Glenmark Life Sciences IPO listing date when the shares were finally listed on NSE and BSE.

Glenmark Life Sciences IPO Details

Glenmark Life Sciences IPO details have been mentioned above but just to recap the IPO process took place between the 27th of July and the 6th of August 2021.

Each share had a face value of 2 rupees and the band price was set between 695 and 720 rupees. There were a total of 20 shares in each lot.

The total issue size aggregated to 1,513.60 crores of which 1,060 crores were a part of fresh issues and the remaining 453.60 crores worth of shares were up for sale. It was a book-building IPO and the stocks were to be listed on both NSE and BSE.

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Glenmark Life Sciences IPO GMP

The Glenmark Life Sciences IPO GMP was always a positive indicator as it was showing that the IPO would be a hit. The premium was up by 125 to 145 rupees before the share got listed.

It kept oscillating between these ranges which meant that the share was offering a possible growth of 17 to 20% before even getting listed on the stock exchange.

The shares didn’t even gain 5% on listing and so people who capitalized during the pre-listing phase enjoyed more returns than those that decided to wait till listing.

And that wraps up the Glenmark Life Sciences IPO allotment article. From Glenmark Life Sciences IPO share price to Glenmark Life Sciences IPO listing date you know it all now. We also mentioned all the other important Glenmark Life Sciences IPO details including Glenmark Life Sciences IPO GMP.

Most IPOs are profitable and also tend to give more to investors that wait for listing, however, with this IPO it was a unique case of investors benefiting more during the pre-listing phase and those that made the correct call and the correct time ended up bagging good profits.