Glenmark Life Sciences IPO Listing Today, GMP Indicates Modest Listing Gain
Glenmark Life Sciences IPO Listing Date, Glenmark Life Sciences Share Price: The shares of Glenmark Life Sciences will be listed on BSE and NSE on Friday. The IPO of Glenmark Life Sciences is currently trading at a premium of around 13 per cent before listing in the gray market. Glenmark Life Sciences IPO GMP is Rs 85.
The shares of Glenmark Life Sciences will be listed on BSE and NSE at 10 am. According to market experts, investors can get the benefit of about 15 to 20 percent listing.
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 made at Rs 720 per share.
The Glenmark Life Sciences IPO received bids for 66.33 crore (66,33,24,160) shares against a total issue size of 1.50 crore (1,50,18,279) shares.
Glenmark Life Sciences will use the proceeds from the new issue for the spin-off of the API business, payment of outstanding purchase consideration to the promoter and funding capital expenditure requirements.
Glenmark Life Sciences is a leading developer and manufacturer of select high-value, noncompressible active pharmaceutical ingredients (APIs) in chronic therapeutic areas including cardiovascular disease, central nervous system disease, pain management and diabetes. The company manufactures and sells APIs for gastro-intestinal disorders, anti-infection and other therapeutic areas.
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