Glenmark Life Sciences Limited (‘GLS’ or the ‘Company’), a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (“APIs”) in chronic therapeutic areas, plans to open its Initial Public Offering (“Offer”) on July 27, 2021.
The Price Band of the Offer has been fixed at Rs 695 to Rs 720 per Equity Share. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.
The Offer consists of equity shares of face value of Rs 2 each of Glenmark Life Sciences Limited (“Equity Shares”) comprising a fresh issue of Equity Shares aggregating to Rs 10,600 million (the “Fresh Issue”) and an offer for sale of up to 6,300,000 Equity Shares by Glenmark Pharmaceuticals Limited (“Promoter” or “Promoter Selling Shareholder”). This Offer is being made through a Book Building Process and in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”) and in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be available.
