InvestorQ : Can you tell me about the anchor placement done by Glenmark Life Sciences?
Dilmini Mercia made post

Can you tell me about the anchor placement done by Glenmark Life Sciences?

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Dawn Cherian answered.
5 months ago
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Glenmark Life Sciences completed its anchor placement to key QIBs amidst strong demand a day ahead of the IPO opening on 27 July. In fact, Glenmark Life Sciences raised Rs.454 crore from a slew of anchor investors. It may be recollected that the total issue size in the IPO is Rs.1,514 crore and the IPO opens on 27 July and closes for subscription on 29 July. It is seen as a key API player and relatively underpriced in the API peer group.

Some of the major anchor investors who got allotment include marquee names like HSBC, Norway Pension Fund, Oaktree, Copthall Mauritius, Kuber Fund, Reliance General Insurance, among others. The anchor placement was done at the upper end of the price band at Rs.720 per share, which could be the benchmark for the IPO pricing too. Glenmark Life Sciences specializes in non-commoditised APIs for CVS, CNS disorders, diabetes and pain management.

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