BackGlenmark Life Sciences IPO share allotment today. How to check status
Glenmark Life Sciences IPO was subscribed nearly 45 times and are likely to get listed on 6th August
PremiumThe share allocation in Glenmark Life Sciences IPO, which was subscribed nearly 45 times, will be finalised today. The retail portion of the ₹1513 crore IPO was subscribed 14.63 times while qualified institutional buyers 36.97 times and non-institutional investors 122.54 times. KFintech Private Limited is the registrar of Glenmark Life Sciences IPO and will manage the share allocation. Once allocation is finalised, investors can check the status of their application on KFintech Private Limited website.
Glenmark Life Sciences shares are likely to get listed on 6th August. Investors can also check the status of their application on BSE website.
Ahead of the IPO, Glenmark Life Sciences had raised ₹454 crore from anchor investors. The issue comprised a fresh issue of up to ₹1,060 crore and an offer for sale of up to 63 lakh equity shares and shares were offered in the price range of ₹695-720 per share. The lot size was 20.
Many analysts had recommended subscribe to the IPO of Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals.
"Given its strong focus on R&D expansion plans, leadership in select high-value non-commoditized APIs in therapeutic areas, solid clientele and growth opportunities in CDMO services provide a strong outlook for the company. At the upper price band of Rs.720, GLSL is available at a P/E of 25x (diluted) which appears fairly priced. Considering its robust growth in financials, fall in D/E, rise in future capacity and future product portfolio, the stock can be considered on a long-term basis," said Vinod Nair, Head of Research at Geojit Financial Services.
Glenmark Life Sciences Ltd, which was incorporated in 2011, and 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. The company also manufactures and sells APIs for gastro-intestinal disorders, anti-infectives, and other therapeutic areas.
As of March 31, 2021, Glenmark Life Sciences had a portfolio of 120 molecules globally and sold their APIs in India and also exported to many countries.
According to domestic brokerage Anand Rathi, Glenmark Life Sciences has an established track record of delivering strong financial performance. Their total revenue from operations for the financial years 2021, 2020 and 2019 was ₹1885 crore, ₹1537 crore and ₹1,405 crore respectively while profit was at ₹351 crore, ₹313 crore and ₹195 crore.
"Given the company’s leadership in select high value non-commercialized APIs in chronic therapeutic areas, cost leadership, strong management, strong balance sheet, growing business, high RoNW of 46.71% in the fiscal ended March 31, 2021 and reasonable valuations; we give this IPO a Subscribe rating," Anand Rathi said in a note.
According to a Press Trust of India report, to tap the huge retail interest in the healthcare sector, five pharma companies are tapping the initial public offering (IPO) market over the next couple of weeks to raise over ₹8,000 crore. The list Emcure Pharma, Vijaya Diagnostic Centre, Krsnaa Diagnostics, Supriya Lifesciences and Windlass Biotech's ₹400 crore issue. (With Agency Inputs)
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
