Glenmark Life Sciences IPO: Glenmark Life Sciences IPO to open on July 27, know here from price band to listing

IPOs are coming before the third wave of Corona. Now another IPO is going to open on 27th July. The name of the company is Glenmark Life Sciences. The company wants to raise Rs 1,513.6 crore from this IPO. New shares worth Rs 1060 crore will be issued in Glenmark Life Sciences IPO. At the same time, 63 lakh shares will be sold through Offer for Sale (OFS).

What is the price band and lot size?

The price of this IPO has been kept at Rs 695 to Rs 720 per share. For retail i.e. common investor, one lot is of 20 shares, for which you will have to spend Rs 14,400. You can bid for a maximum of 13 lots i.e. 300 shares. For which you will have to spend Rs 187,200. This stock will be listed on both Sensex and Nipty exchanges.

When will IPO open Jul 27, 2021
When will the IPO close Jul 29, 2021
allotment date Aug 3, 2021
money refund Aug 4, 2021
Shares will come in demat Aug 5, 2021
When will the IPO list? Aug 6, 2021

About the company?

Glenmark Life Sciences is a subsidiary of Glenmark Pharma. This company makes special chemicals and raw materials to make medicines. Simply put, this company manufactures the raw materials used in making medicines and then supplies them to pharmaceutical companies. Apart from India, its APIs (Active Pharmaceutical Ingredient) company also supplies to America and Japan. At present, the company’s plants are in Gujarat and Maharashtra. Whatever money the company will raise through the IPO, some part of it will be used to increase the production of both the plants. As of March 31 of this year, the company’s revenue was 1537 crores, while the net profit was 314 crores.

People are now waiting for the biggest IPO

LIC’s IPO is being discussed the most this year. During the monsoon session on Monday itself, the Minister of State for Finance told that LIC’s IPO will come by March 2022. The special thing is that in this IPO there will be a separate quota reserve for those people who have LIC policy. By the way, at present, about 29 crore people of the country have some or the other policy of LIC. In such a situation, it is believed that this will be the biggest IPO till date.

read this also: Tatva Chintan IPO: Know the gray market premium of Tatva Chintan IPO, listing date and allotment details

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