Glenmark Life Sciences will likely finalise its initial public offer (IPO) share allotment status Tuesday. Subscriptions for the Rs 1,513.6 crore public issue were open from July 27 to 29. The investors responded positively to the Glenmark Life Sciences IPO, with total subscriptions exceeding 44.17. The offer price was set at Rs 695-720 for equity shares. The 36.97-time subscription was for the qualified institutional investors. The retail quota was subscribed 14.63 more times than the non-institutional.
Stocks of Glenmark Life Sciences expected to be on the market by August 6. The unlisted share traded at Rs 97-100 in advance of the listing. This is compared to the issue size of Rs 695-520. According to people who trade in shares of unlisted businesses, the shares were traded at Rs 820 per share, a 14% premium over the IPO price. Glenmark Life Sciences’ grey market premium has fallen significantly over the past few days, it must be noted.
You can check the status of Glenmark Life Sciences IPO share allotment on Tuesday via two methods:
via a) BSE site, b) IPO registrar website.
Check the status of Glenmark Life Sciences IPO allotment at BSE
To check one’s share allotment status online at BSE, bidders can login at bseindia.com/investors/appli_check.aspx. Once they log in, they will need to follow a few simple steps to view their application status online.
This is a step-by-step guide.
1] Login at direct BSE link — bseindia.com/investors/appli_check.aspx;
2] Type “Glenmark Life Sciences IPO” in the box provided for issue name.
3] Enter your application number;
4] Enter your PAN details;
5] Click at ‘I’m not a robot’; and
6] Click at ‘Submit’ button.
Bidders who were unable to get an allotment in IPO might see refunds being initialized on Wednesday. The shares would be credited to the demat accounts by Thursday for successful bidders.
- Glenmark Life Sciences IPO is valued at Rs 2 per equity shares
- Glenmark Life Sciences IPO Price is Rs 695 to R 720 per Equity Share
- Glenmark Life Sciences IPO is limited to 20 shares. Minimum order quantity of 20 shares.
- Glenmark Life Sciences IPO will list on NSE and BSE.
- Glenmark Life Sciences IPO worth is Rs 1,513.60 crore. The total amount of the issue includes a fresh issue worth Rs 1,060.00 crore, and an offer for sale of 453.60 crore.
- Glenmark Life Sciences IPO was subscribed 44.17 Times. The initial public offering was subscribed to 36.97 times for QIB, 122.54 times for NII segment, and 14.63 times for retail.
Funds will be refunded on August 4 to eligible investors. Equity shares will then be credited to the demat accounts for eligible investors after the share allocation has been finalized.
Glenmark Life Sciences IPO includes a new issue of Rs 1,060 Crore and an offer to sell 63 lakh equity shares. Glenmark Pharmaceuticals is the promoter. At a higher price range, the fund raising amount is Rs 1,513.6 crore. New issue proceeds will be used by the company to pay the promoter’s outstanding purchase consideration for the spin-off API business. This is pursuant to the October 9, 2018, business purchase agreement (Rs 800 crore) and capital expenditure requirements (Rs. 152.76 million).
Given the company’s future prospects, most analysts recommend that Glenmark Life Sciences IPO be subscribed to. Analysts said that the company, a wholly-owned subsidiary Glenmark Pharmaceuticals, is well-positioned in the Active Pharmaceutical Ingredients (API) market.