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Glenmark Life IPO: GMP signals issue may see strong subscription demand

Glenmark Life Sciences IPO GMP: As per the market observers, it's too early to speak about the listing gains but the way grey market has responded to the Active Pharmaceutical Ingredients (APIs) manufacturer company, we can expect strong subscription demand for the public issue. Photo: Courtesy company websitePremium
Glenmark Life Sciences IPO GMP: As per the market observers, it's too early to speak about the listing gains but the way grey market has responded to the Active Pharmaceutical Ingredients (APIs) manufacturer company, we can expect strong subscription demand for the public issue. Photo: Courtesy company website

  • Glenmark Life Sciences IPO: Glenmark shares are available at a premium of 300 in the grey market today, which is around 40 per cent higher from the issue price of 695 to 720

Glenmark Life Sciences IPO (Initial Public Offering) is going to open for subscription on 27th July 2021 and it will remain open for bidding till 29th July 2021. While we are four days away to see how stock market responds to the Gelnmark Life public issue, Glenmark shares have already started attracting grey market observers. Glenmark shares are available at a premium of 300 in the grey market today, which is around 40 per cent higher from the issue price of 695 to 720. As per the market observers, it's too early to speak about the listing gains but the way grey market has responded to the Active Pharmaceutical Ingredients (APIs) manufacturer company, we can expect strong subscription demand for the public issue.

Takeaways from Glenmark Life Sciences IPO GMP

According to the market observers, Glenmark Life Sciences IPO GMP is highly volatile as the Glenmark shares were available in the grey market at a premium of 200 to 205 yesterday. This means market is expected to respond strongly to the public issue when it opens for subscription on 27th July 2021. They said that Glenmark Life Sciences IPO GMP today at 300 means the market is expecting 300 gain per equity from the public issue when it gets listed at Indian bourses on 6th August 2021. So, market is expecting Glenmark Life Sciences IPO listing at around 1020 ( 720 + 300).

Advising bidders to rely on the financials of the company, while making any investment decision in regard to the public offer; Abhay Doshi, Founder, UnlistedArena.com said, "GMP is not the correct indicator of a public issue as it keeps on changing from time to time. It’s a short-term market sentiment which has nothing to do with the balance sheet of the company."

Asked about his views in regard to the Glenmark Life Sciences IPO; Abhay Doshi of UnlistedArena.com said, "Glenmark Life Sciences is leading developer and manufacturer of select high value APIs in chronic therapeutic areas. As of march 31, 2021, it had a portfolio of 120 molecules globally and sold APIs in India and exported to multiple countries. Company intends to increase its API manufacturing facilities. Stricter controls from Chinese authorities on fine chemicals and API manufacturing create an opportunity for Indian players."

On his views about the response from the market in regard to subscription of Glenmark Life Sciences IPO; Abhay Doshi — who deals in in Pre-IPO & Unlisted Shares — said, "The issue looks moderately priced. Owing to the buzz in primary market, the issue should witness good subscription."

Glenmark Life Sciences IPO details

As per the Red Herring Prospectus (RHP) of the public issue, Glenmark Life Sciences IPO will open for subscription on 27th July 2021 and it will remain open for subscription till 29th July 2021. Expected Glenmark Life Sciences IPO allotment date is 3rd August 2021 while tentative date for Glenmark Life Sciences IPO listing is 6th August 2021.

Glenmark Life Sciences IPO price band has been fixed at 695 to 720.

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