Glenmark Life Sciences got listed at price to earnings of 26.01x compared to Divis Lab & Laurus Lab which are trading at 65.8x & 34.2x, respectively.
Investors are now looking forward to the share allotment status. Investors can check their allotment status by using any one of the two methods
The issue received bids for 4,17,79,260 shares against 1,50,18,279 shares on offer, as per data available with the NSE
Geojit Financial Services assigned a “Subscribe” rating for the issue on a long-term basis considering its strong focus on R&D.
The domestic equity barometers ended a volatile session with modest losses on Monday.
Ahead of the IPO, shares of Glenmark Life Sciences were trading at Rs 855 per share marking a premium of Rs 135 or 18.75% at the upper price band
The public issue will have a fresh issue of equity shares worth up to Rs 1,060 crore and sale of up to 63 lakh equity shares by Glenmark Pharma
Glenmark Life Sciences IPO opens on July 27 and closes on July 29. The price band for the issue has been fixed at Rs 695-720 per share.
Glenmark Life Sciences has filed a Draft Red Herring Prospectus with SEBI for an initial public offer