The allocation of shares of Glenmark Life Sciences IPO, which has been subscribed nearly 45 times, will be finalized tomorrow. The retail part of the ₹The 1,513 crore IPO was underwritten 14.63 times while qualified institutional buyers 36.97 times and non-institutional investors 122.54 times. KFintech Private Limited is the registrar of the IPO of Glenmark Life Sciences and will manage the allocation of shares. Once the allocation is finalized, investors can check the status of their request on KFintech Private Limited website.
Glenmark Life Sciences shares are expected to be listed on August 6. Investors can also check the status of their application on ESB website.
Prior to the IPO, Glenmark Life Sciences had raised ₹454 crore from anchor investors. The show included a new broadcast of up to ₹1,060 crore and an offer to sell up to 63 lakh stocks and shares were offered in the price range of ₹695-720 per share. The lot size was 20.
Many analysts had recommended subscribing to the IPO of Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals.
“Given its strong focus on R&D expansion plans, its leadership in a selection of high added value non-market APIs in therapeutic areas, a strong customer base and growth opportunities in CDMO services provide strong prospects for the company. In the upper price bracket of Rs 720, GLSL is available at a P / E of 25x (diluted) which appears at a fair price. Given its robust growth in financials, declining D / E, increased future capacity and future product portfolio, the stock can be viewed as long term. base, ”said Vinod Nair, research manager at Geojit Financial Services.
Glenmark Life Sciences Ltd, which was incorporated in 2011, is a leading developer and manufacturer of high value, non-marketed Active Pharmaceutical Ingredients (APIs) in chronic therapeutic areas including cardiovascular disease, systemic diseases central nervous system, pain management and diabetes. The company also manufactures and sells APIs for gastrointestinal disorders, anti-infective, and other therapeutic areas.
As of March 31, 2021, Glenmark Life Sciences had a portfolio of 120 molecules worldwide and was selling its APIs in India and also exporting to many countries.
According to national brokerage firm Anand Rathi, Glenmark Life Sciences has an established reputation for strong financial performance. Their total operating revenue for fiscal years 2021, 2020 and 2019 amounts to ₹1885 crores, ₹1537 crores and ₹1,405 crore respectively while the profit was at ₹351 crores, ₹313 crores and ₹195 crores.
“Given the company’s leadership in some high-value unmarketed APIs in chronic therapeutics, cost leadership, strong management, strong balance sheet, growing business, a high RoNW of 46.71% during the fiscal year ended March 31, 2021 and reasonable valuations; we are giving this IPO a subscription note, ”Anand Rathi said in a note.
According to a Press Trust of India report, to harness the huge interest of retailers in the healthcare sector, five pharmaceutical companies will tap the initial public offering (IPO) market over the next two weeks to raise more ₹8,000 crores. The list Emcure Pharma, Vijaya Diagnostic Center, Krsnaa Diagnostics, Supriya Lifesciences and Windlass Biotech’s ₹400 crore problem. (With contributions from the agency)
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