Glenmark Life Sciences Limited
Glenmark Life Sciences is coming out with a fresh public issue to raise ₹ 1,513.6 crores from the market. Issue details follow:
- Issue open – July 27 to 29 (Tuesday to Thursday)
- Issue size – ₹ 1513.6 crores
- Price band – ₹ 695 – 720 per equity share
- Bid lot – 20 shares and in multiples thereof
- What’s more – Through UPI, you can now apply online and block payment
Further details on the Glenmark Life Sciences issue
Company Details
Glenmark Life Sciences Limited is a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management and diabetes (Source: Frost & Sullivan Report). They also manufacture and sell APIs for gastro-intestinal disorders, anti-infectives and other therapeutic areas.
They have a strong market share in select specialized APIs such as Telmisartan (anti-hypertensive), Atovaquone (anti-parasitic), Perindopril (anti-hypertensive), Teneligliptin (diabetes), Zonisamide (CNS) and Adapalene (dermatology) (Source: Frost & Sullivan Report). They are also increasingly providing contract development and manufacturing operations (CDMO) services to a range of multinational and specialty pharmaceutical companies.
They are a wholly-owned subsidiary of their Promoter, Glenmark Pharmaceuticals Limited, a research-oriented, innovation led, global pharmaceutical company that was established in 1977 and is listed on the BSE and NSE.
As of Mar 31, 2021, they had a portfolio of 120 molecules globally and sold their APIs in India and exported their APIs to multiple countries in Europe, North America, Latin America, Japan and the rest of the world. As of May 31, 2021, they had filed 403 drug master files and certificates of suitability to the monographs of the European Pharmacopoeia across various major markets (that is, United States, Europe, Japan, Russia, Brazil, South Korea, Taiwan, Canada, China and Australia). As of Mar 31, 2021, 16 of the 20 largest generic companies globally were their customers (Source: A Year of Surprises Shakes Up Off-Patent Industry | Informa, 2020).
They currently operate four multipurpose manufacturing facilities that are situated on leasehold properties located at Ankleshwar and Dahej in the state of Gujarat, India, and Mohol and Kurkumbh in the state of Maharashtra, India, with an aggregate annual total installed capacity of 726.6 KL as of Mar 31, 2021.
The company's R&D laboratories focus on new product development and complex molecules, cost improvement programs, process improvements and oncology product development.
Issue Size: ₹ 1,513.6 crores
Issue Break-up:
- QIB – 50% of the offer – ₹ 756.8 crores
- NIB – 15% of the offer – ₹ 227.04 crores
- RET – 35% of the offer – ₹ 529.76 crores
Listing: NSE and BSE | Registrar: KFin Technologies Private Limited
UPI: All retail applications through brokers are compulsorily in UPI mode