Hyderabad: The initial public offering (IPO) of Glenmark Life Sciences has received a massive investor response. According to the data available with the National Stock Exchange (NSE), the IPO has been subscribed by a whopping 44.17 times with bids for 66.33 crore shares against 1.5 crore shares on offer. The portion meant for qualified institutional buyers (QIBs) was subscribed 36.97 times, those reserved for non-institutional investors a whopping 122.54 times and retail individual investors(RIIs) quota received 14.63 times subscription. The issue price was in the range of Rs 695-720 per share.
While the total issue size is Rs 1,513 crore, the share sale consists of a fresh issue of equities worth Rs 1,060 crore and an offer for sale by promoter Glenmark Pharmaceuticals for Rs 453 crore. According to the company, proceeds from the issue will be used towards payment of outstanding purchase consideration to the promoter for the spin-off of the API business and for funding the capital expenditure requirements.
As the share allotment is likely to be finalised on August 3, follow the below given steps to check the allotment status online.
- Visit Bombay Stock Exchange (BSE) website - https://www.bseindia.com/investors/appli_check.aspx
- Under the issue type, click Equity
- Under the issue name, select Glenmark Life Sciences Ltd in the drop box
- Enter your application number
- Enter your Permanent Account Number (PAN)
- Click on 'I am not a Robot’ and hit submit to know your status
(With PTI Inputs)
