IPO Wrap: Glenmark Life Sciences IPO subscribed 44.17 occasions on remaining day led by non institutional traders, QIBs

Glenmark Life Sciences IPO subscription standing: The preliminary public providing (IPO) of Glenmark Life Sciences, a wholly-owned subsidiary of Glenmark Pharmaceuticals, which was launched earlier this week was met with a strong demand by the traders.
Glenmark Life Sciences IPO was subscribed 44.17 occasions on the ultimate day, information out there on the BSE confirmed. The Rs 1,513.6 crore provide obtained bids for over 66.32 crore (66,32,97,760) shares towards the entire difficulty dimension of 1.50 crore (1,50,18,279) shares, the information confirmed.
The shares that are to be allotted for the certified institutional consumers (QIBs) received subscribed 36.97 occasions, whereas these of non institutional traders had been subscribed a whopping 122.54 occasions and that of retail particular person traders (RIIs) was subscribed 14.63 occasions, the BSE information confirmed.

Glenmark Life Sciences is a number one developer and producer of choose excessive worth, non-commoditized lively pharmaceutical substances (APIs) in continual therapeutic areas, together with heart problems, central nervous system illness, ache administration and diabetes. It additionally manufactures and sells APIs for gastro-intestinal problems, anti-infectives and different therapeutic areas.

The IPO contains of a recent difficulty of fairness shares value Rs 1,060 crore and a suggestion on the market (OFS) comprising of as much as 63 lakh fairness shares value Rs 453.6 crore by Glenmark Pharma.

The IPO had opened for subscription on Tuesday, July 27, 2021, and concluded at 5 pm at present. It had a worth band of Rs 695-720 per share and earlier than heading into the IPO, Glenmark Life Science raised over Rs 454 crore from 19 anchor traders in lieu of 63,06,660 fairness shares at Rs 720 every.
Going forward, traders will now look ahead to the share allotment date of the problem. The finalisation of the idea of allotment for Glenmark Life Sciences is anticipated to happen on Tuesday, August 3, 2021, as per the data supplied within the purple herring prospectus.