Glenmark Life Sciences share allotment today. How to check the status
The stock award in Glenmark Life Sciences’ initial public offering, which was subscribed nearly 45 times, will close today. The retail share of the ₹1513 crore IPO subscribed 14.63 times, qualified institutional buyers 36.97 times and non-institutional investors 122.54 times. KFintech Private Limited is the registrar of the initial public offering of Glenmark Life Sciences and will manage the stock allocation. Once the allotment is complete, investors can check the status of their application on the KFintech Private Limited website.
Glenmark Life Sciences’ shares are expected to list on August 6th. Investors can also check the status of their application on the BSE website.
Before going public, Glenmark Life Sciences had increased ₹454 crore from anchor investors. The edition included a reissue of up to ₹1,060 crore and an offer to sell up to 63 lakh stocks and shares were in the price range of. offered ₹695-720 per share. The lot size was 20.
Many analysts recommended subscribing to the IPO of Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals.
“Given its strong focus on R&D expansion plans, leadership in select high quality non-manufactured drugs in therapeutic areas, solid customer base, and growth opportunities in CDMO services, the company has good prospects. At the upper price range of Rs.720, GLSL is available at a P / E of 25x (diluted) which seems fair valued. Given the robust growth in financial stocks, declines in D / E, increases in future capacity and future product portfolio, the stock can be looked at on a long-term basis, “Vinod said Nair, Head of Research at Geojit Financial Services.
Founded in 2011, Glenmark Life Sciences Ltd is a leading developer and manufacturer of select high quality, over the counter active pharmaceutical ingredients (APIs) in chronic therapeutic areas including cardiovascular disease, central nervous system disease, pain management and diabetes. The company also manufactures and sells APIs for gastrointestinal diseases, anti-infectives, and other therapeutic areas.
As of March 31, 2021, Glenmark Life Sciences had a portfolio of 120 molecules worldwide and sold its APIs in India and also exported to many countries.
According to domestic brokerage house Anand Rathi, Glenmark Life Sciences has a proven track record of delivering strong financial performance. Your total revenue from operations for fiscal years 2021, 2020 and 2019 was ₹1885 million, ₹1537 crore and ₹1,405 crore or a profit of ₹351 crore, ₹313 crore and ₹195 million euros.
“Given the company’s leadership in selected high quality non-commercial compounds in chronic therapeutic areas, cost leadership, strong management, strong track record, growing business, high RoNW of 46.71% for the fiscal year ended March 31, 2021, and reasonable ratings,” we give this IPO a subscriber rating, “Anand Rathi said in a note.
According to a report by the Press Trust of India, five pharmaceutical companies are tapping the initial public offering (IPO) market in the next few weeks to capture the huge interest of retailers in the healthcare sector to over ₹8,000 million euros. The list Emcure Pharma, Vijaya Diagnostic Center, Krsnaa Diagnostics, Supriya Lifesciences and Windlass Biotech’s ₹400 crore edition. (With agency entries)
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