The share allocation of Glenmark Life Sciences, a subsidiary of Glenmark pharmaceutical will be finalized on Tuesday. The Rs. 1,513.6 crores IPO was subscribed by investors nearly 45 times. The quota for institutional buyers was subscribed 36.97 times and non-institutional investors were subscribed 122.54 times.
Investors can check the status of their application on the BSE and KFintech Private Limited websites.
According to Live Mint, Glenmark Life Sciences had raised ₹454 crores from anchor investors, ahead of the IPO. The price band for the shares was between Rs. 695-720 per equity share
The Glenmark IPO was recommended by many analysts. Vinod Nair, Head of Research at Geojit Financial Services told LiveMint, “Given its strong focus on R&D expansion plans, leadership in select high-value non-commoditized APIs in therapeutic areas, solid clientele and growth opportunities in CDMO services provide a strong outlook for the company. At the upper price band of Rs.720, GLSL is available at a P/E of 25x (diluted) which appears fairly priced. Considering its robust growth in financials, fall in D/E, rise in future capacity and future product portfolio, the stock can be considered on a long-term basis.”
Steps to check the status of Glenmark IPO via the BSE website:
- Go to the BSE website
- You will be redirected to the ‘Status of Issue Application’ page, in which the ‘Equity’ option has to be selected.
- Select ‘Glenmark Life Sciences Limited’ from the drop-down menu that is beside the issue name.
- Enter your application number and Permanent Account Number (PAN) and click ‘search.
