Glenmark Life Sciences IPO Details

Glenmark Life Sciences IPOGlenmark Life Sciences IPO description – Glenmark Life Sciences – a wholly-owned subsidiary of Glenmark Pharmaceuticals – is a developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease (CVS), central nervous system disease (CNS), pain management and diabetes. It also manufactures and sells APIs for gastro-intestinal disorders, anti-infectives and other therapeutic areas. Its API portfolio comprises specialized and profitable products, including niche and technically complex molecules. The company is also increasingly providing contract development and manufacturing operations (CDMO) services to multinational and specialty pharmaceutical companies.

Its parent and promoter, Glenmark Pharmaceuticals is a global pharmaceutical company with a long operating history having been established in 1977. In 2001-2002, Glenmark launched the API manufacturing business by setting up a manufacturing facility in Kurkumbh in the state of Maharashtra. In 2019, the API manufacturing business of Glenmark was sold and spun off into Glenmark Life Sciences.

The company’s products are sold in both regulated markets and emerging markets. For the nine months ended 31 December 2020, its revenue from regulated market products accounted for 60.1% of its total revenues from operations. The company works with 16 of the 20 largest generic companies globally. As of 31 December 2020, it had a portfolio of 120 molecules globally and sold its APIs in India and exported its APIs to multiple countries in Europe, North America, Latin America, Japan and the rest of the world (ROW). As of 7 April 2021, it had filed 399 Drug Master Files (DMFs) and Certificates of suitability to the monographs of the European Pharmacopoeia (CEPs) across various major markets (i.e. United States, Europe, Japan, Russia, Brazil, South Korea, Taiwan, Canada, China and Australia).

Promoters of Glenmark Life Sciences – Glenmark Pharmaceuticals Limited
Glenmark Life Sciences IPO details
Subscription Dates 27 – 29 July 2021
Price Band INR695 – 720 per share
Fresh issue INR1,060 crore 
Offer For Sale 63,00,000 shares (INR437.85 – 453.60 crore)
Total IPO size INR1,497.85 – 1,513.6 crore 
Minimum bid (lot size) 20 shares 
Face Value  INR2 per share
Retail Allocation 35%
Listing On NSE, BSE

Glenmark Life Sciences Financial Performance (in INR crore)

  FY2018 FY2019 FY2020 FY2021
Revenue 1,202.2 1,405.5 1,549.3 1,886.0
Expenses 892.8 1,001.7 1,128.2 1,415.0
Net income 229.5 293.1 313.6 351.1
Margin (%) 19.1 20.9 20.2 18.6

Registrar of Glenmark Life Sciences IPO

KFin Technologies Private Limited Selenium Tower B, Plot 31-32, Gachibowli, Nanakramguda, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551
Email: [email protected] Website: www.kfintech.com

Glenmark Life Sciences Contact Details

Glenmark Life Sciences Limited
Glenmark House,
B. D. Sawant Marg, Andheri (East),
Mumbai 400099, Maharashtra
Phone: +91 2189 234246
Email: [email protected]
Website: www.glenmarklifesciences.com

Valuation of Glenmark Life Sciences (as of FY2021)

Earnings Per Share (EPS): INR32.61
Price/Earnings (PE ratio): 21.31 – 22.08
Return on Net Worth (RONW): 46.71%
Net Asset Value (NAV): INR69.82 per share

Glenmark Life Sciences IPO GMP Daily Trend

Date Glenmark IPO GMP Kostak Subject to Sauda
5 August 2021 INR90
4 August 2021 INR90 INR2,000
3 August 2021 INR100 INR180 INR2,000
2 August 2021 INR110 INR180 INR2,000
31 July 2021 INR130 INR250 INR2,300
30 July 2021 INR150 INR300 INR2,500
29 July 2021 INR150 INR300 INR2,500
28 July 2021 INR150 INR300 INR2,500
27 July 2021 INR170 INR300 INR2,500
26 July 2021 INR220 INR300 INR2,800
23 July 2021 INR250 INR410 INR3,800
22 July 2021 INR250 INR430 INR4,200
21 July 2021 INR280 INR450 INR4,700

 

Glenmark Life Sciences IPO Subscription Details (no. of times, at 5 PM)

Category Shares Offered Day 1 Day 2 Day 3
QIB 42,42,379 0.00 1.39 36.97
NII 32,32,770 0.85 3.40 122.54
Retail 75,43,130 5.17 9.28 14.63
Total 1,50,18,279 2.78 5.78 44.17

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Glenmark Life Sciences IPO Allotment Status

Glenmark Life Sciences IPO allotment is now available on KFin Technologies’ website. Click on this link to get allotment status. 

Listing Performance of Glenmark Life Sciences

IPO Opening Date: 27 July 2021
IPO Closing Date: 29 July 2021
Finalisation of Basis of Allotment: 3 August 2021
Initiation of refunds: 4 August 2021
Transfer of shares to demat accounts: 5 August 2021
Listing Date: 6 August 2021
Opening Price on NSE: INR750 per share (up 4.17% from IPO price)
Closing Price on NSE: INR746 per share (up 3.61% from IPO price)

5 COMMENTS

  1. This looks like a good investment option but price is not known. Financially it is doing great and API/CDMO has bright future according to Sajal Kapoor. I will buy on listing if I don’t get allotment.

  2. The IPO of API manufacturer Glenmark Life Sciences is scheduled to hit the markets on July 27th, marking this year’s 29th public offering.

    The company was spun off as a wholly-owned API business subsidiary of Glenmark Pharmaceuticals in 2018.

    Even though it has been doing some good business owing to rising market and policy winds favouring generics and patent liberation, this IPO may not have come at a particularly good time, in light of Glenmark Life’s financial obligation to its parent.

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