Glenmark Life Sciences IPO Listing today, GMP indicated moderate listing gain
Glenmark Life Sciences IPO Listing Date, Glenmark Life Sciences Share Price: Glenmark Life Sciences shares will be listed on the BSE and NSE on Friday. Glenmark Life Sciences IPO is currently commanding a premium of around 13 per cent in the grey market ahead of listing. Glenmark Life Sciences IPO GMP is Rs 85.
Glenmark Life Sciences shares will be listed on the BSE and NSE at 10 am. According to market observers, investors could get around 15 to 20 per cent listing gain.
Glenmark Life Sciences is a wholly-owned subsidiary of Glenmark Pharmaceuticals. The price band was fixed at Rs 695-720 per share. The allotment was done at Rs 720 per share.
Glenmark Life Sciences IPO had received bids of over 66.33 crore (66,33,24,160) shares against the total issue size of over 1.50 crore (1,50,18,279) shares.
Glenmark Life Sciences will utilise the proceeds from the fresh issue towards the payment of outstanding purchase consideration to the promoter for the spin-off of the API business and funding the capital expenditure requirements.
Glenmark Life Sciences is a leading developer and manufacturer of select high-value, non-commoditised active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management, and diabetes. The company also manufactures and sells APIs for gastro-intestinal disorders, anti-infectives, and other therapeutic areas.
