InvestorQ : When is Glenmark Life Sciences planning its IPO?
vaishnavi mhatre made post

When is Glenmark Life Sciences planning its IPO?

vidhya Laxmi answered.
2 years ago

Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, has just filed the DRHP or draft red herring prospectus with SEBI for the proposed IPO. As per the disclosures made in the DRHP, the offer will consist of a fresh issue of up to Rs.1,160 crore while the OFS by existing shareholders will be to the tune of 73 lakh equity shares at a price to be decided.

The exact timing of the IPO may be more a function of conducive market situation. Glenmark Life proposes to use the funds raised through the new offer portion for financing its capital expenditure plans. The listing of Glenmark Life Sciences is likely to be value accretive for Glenmark stocks as it will help them monetize value currency in the market.