Home >Markets >Stock Markets >Glenmark Life Sciences IPO: What GMP signals as all eyes set on share allotment

Glenmark Life Sciences IPO: 1,514 crore initial public offer of Glenmark Life Sciences has been subscribed 44.17 times dueing three days bidding from 27th July 2021 to 29th July 2021. On account of overwhelming response from the bidders, Glenmark Life Sciences shares are doing well in the grey market too. Glenmark Life Sciences IPO GMP today is 145, which is 5 up from its Thursday price in the grey market. According to market observers, Glenmark Life Sciences IPO grey market premium has been oscillating around 125 to 145 for the last four days that means market is expecting around 20 per cent listing gain from the public issue. They said that bidding process for the public issue is over and now all eyes are set on the allotment process.

What this GMP means for Glenmark Life Sciences IPO

Market observers said that grey market premium of a public issue is an unofficial market expectation about the listing gains. As Glenmark Life Sciences IPO grey market premium today is 145, its expected listing price in the grey market is around 865 ( 720 + 145) — around 20 per cent higher from its issue price band of 695 to 720. For the last four days, Glenmark Life Science IPO GMP has been oscillating around 125 to 145. Yesterday, it was at 140, on Wednesday it was at 125, while on Tuesday it was 141.

Highlighting the financials that augurs strong listing of the shares; Saurabh Joshi Research Analyst at Marwadi Shares and Finance said, "Considering the FY-21 adjusted EPS (Earnings Per Share) of 28.69 on post-issue basis, the upper price band implies a P/E multiple of 25.09 with a market cap of 88,220 mn, while its peers namely Divi’s Laboratories, Laurus Labs and Shilpa Medicare are trading at a P/E multiple of 64.0, 36.1 and 36.5 respectively. We recommend to subscribe this IPO as the company is a leader in select high value, non-commoditized APIs in chronic therapeutic areas with quality-focused & compliant manufacturing / R&D infrastructure and is available at reasonable valuation as compared to its peers."

Standing in sync with Saurabh Joshi's views; Abhay Doshi, Founder, said, "The issue looks moderately priced. Owing to the buzz in primary market, the issue should witness good subscription today."

Glenmark Life Sciences IPO details

- Glenmark Life Sciences IPO price band is 695 to 720

- Tentative Glenmark Life Sciences IPO allotment date is 3rd August 2021

- Expected Glenmark Life Sciences IPO listing date is 6th August 2021

- Glenmark Life Sciences shares will be listed at both NSE and BSE

- After listing, promoters' holding in the company will go down from existing 100 per cent to 82.84 per cent.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
My ReadsRedeem a Gift CardLogout