Glenmark Life Sciences share made a lukewarm presentation today, rising 4.30% to Rs 751 on BSE against issue cost of Rs 720. The stock contacted a high and a low of Rs 800 and Rs 737, individually. Absolute 9.26 lakh shares changed hands adding up to turnover of Rs 71.61 crore. Market cap of the firm rose to Rs 9,441 crore. On NSE, the pharma share recorded at Rs 750 against issue cost of Rs 720. Absolute 1.49 crore shares changed hands adding up to turnover of Rs 1,159 crore. Market cap of the firm rose to Rs 9,431 crore on NSE. The underlying public offer (IPO) was bought in 44.17 occasions on the last day of membership. The IPO shut on July 29.
The Rs 1,513.6-crore IPO got offers for 66,33,24,160 offers against 1,50,18,279 offers on offer. Value band of the offer deal was fixed at Rs 695-720 for every offer. Initial public offering size comprises of a new issue of Rs 1,060 crore and make available for purchase (OFS) of up to 63 lakh shares by its advertiser Glenmark Pharma. A day in front of the IPO on July 26, Glenmark Life Sciences raised Rs 454 crore from anchor financial backers. The organization would apportion 63,06,660 value offers to 19 anchor financial backers at Rs 720 an offer, accumulating to Rs 454 crore.
Continues from the new issue will be utilized towards installment of extraordinary buy thought to the advertiser for the side project of the API business and financing the capital use prerequisites. Designation of offers was done on August 3, 2021. Advertiser of the firm sold 17.2% stake in the IPO and is left with 82.8% shareholding in the organization. A big part of the all out issue is saved for qualified institutional purchasers, 35% for retail financial backers, and staying 15% for non-institutional financial backers. Goldman Sachs (India) Securities Private Limited, SBI Capital Markets, Kotak Mahindra Capital Company, BofA Securities India Ltd, DAM Capital Advisors Ltd and BoB Capital Markets are the lead chiefs to the issue.