Home >Markets >Ipo >Glenmark Life raises Rs454 cr via 19 anchor investors

Glenmark Life Science Ltd on Monday has garnered 454.32 crore from 19 anchor investors ahead of IPO opening.

The company in consultation with merchant bankers finalised allocation of 6.31 million shares to anchor investors, at a price of 720 a share.

Marquee global investors who participated in the anchor book were HSBC Global,Polar Capital Funds, Oaktree Emerging Market Fund, NT Asian Discovery Master Fund, International Monetary Fund, Copthall Mauritius Investment, The Master Trust Bank of Japan.

Jupiter India Fund, Segantii India Mauritius, Kuber India Fund are among domestic investors invested in the specialty company through anchor book.

The firm will open for subscription on 27 July and close on 29 July. It’s price band fixed at 695-720 a share.

The IPO will consist of a fresh issue of 1060 crore and an offer for sale of up to 6.30 million shares by Glenmark Pharmaceuticals Ltd.

From its upper band of issue price the company will raise approximately 1513.60 crore via IPO.

Glenmark Life Sciences is in the business of manufacturing active pharmaceutical ingredients (API). Its portfolio comprises 120 products. Currently, Glenmark Pharma holds a 100% stake in the company.

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