Glenmark Life Sciences, a wholly-owned subsidiary of Glenmark Pharmaceuticals and a leading manufacturer of of high-value non-commoditised APIs has finalised its initial public offering (IPO) status. The Rs 1,513.6-crore public issue received a strong response from investors. The much-awaited IPO of the pharma major opened for subscription between July 27-29. The price band for the Glenmark Life Sciences IPO was fixed at Rs 695-Rs 720 per equity share. After the mega listing of Tatva Chintan Pharma Chem stocks last week, all eyes are set on this pharma stock’s market debut on August 6.
If you have subscribed for Glenmark Life Sciences IPO, you can check the allotment status now. There are two ways to check Glenmark Life Sciences IPO share allotment application status — a) via BSE b) via registrar’s website. As the allotment status have been finalised, the ineligible investors will get their refunds by Wednesday. The equity shares will be credited to the demat accounts of eligible investors on August 5.
How to Check Glenmark Life Sciences IPO Allotment Status via BSE
1) Go to the official BSE website. Via the URL (https://www.bseindia.com/investors/appli_check.aspx).
2) It will take you to a page called ‘Status of Issue Application’. There you need to select the ‘Equity’ option.
3) Select ‘Glenmark Life Sciences Limited’ from the drop-down menu that is besides the issue name.
4) Input your application number and the Permanent Account Number (PAN). Then you just click the ‘I am not a robot’ to verify yourself and click ‘Search’. This will show you the status of the application.
How to Check Glenmark Life Sciences Limited Share Allotment Status via the Registrar’s Website (KFin Technologies Private Limited)
1) Go to the web portal of KFin Technologies Private Limited -https://ris.kfintech.com/ipostatus/ipos.aspx
2) Select the IPO in dropbox where the name will be populated. This option will open only after the allotment is finalised
3) You have to select either one of the three modes: application number, client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Then you need to enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately and hit submit
On listing of Glenmark Life Sciences share, Ashish Chaturmohta, director research, Sanctum Wealth Management, said, “The company is a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients in chronic therapeutic areas, including cardiovascular disease central nervous system disease, pain management and diabetes. It also provides contract development and manufacturing operations (CDMO)services to a range of multinational and specialty pharmaceutical companies. The total issue size is of Rs 1,514 crore (at Rs 720/share). It includes fresh issue of Rs 1,060 crore and an Offer for Sale (OFS) of Rs 454 crore. The company’s market cap would be Rs 8,740 crore post issue. In the year FY21, glenmark delivered PAT of 352cr. Hence, post listing, the company would have 12 crore shares indicating an EPS of 29.33. Further considering the the issue price of 720, the P/E comes to 24xFY21. The company is a mixture of complex API and CDMO. We should expect a good listing."
Glenmark Life Sciences Grey Market Premium
The unlisted stocks of Glenmark Life Sciences continued to lose its ground in the grey market ahead of the listing. The share price has significantly dropped in the last few days. On August 3, the Glenmark Life Sciences stock was trading at Rs 78-91 in the grey market, over the issue price of Rs 695-720. The shares were commanding a premium of around Rs 800 in the unofficial market. It must be mentioned the share was trading at more than Rd 500 when the issue announced. Market analysts pointed out that a poor sentiment in the pharma sector could be reason behind the dip of Glenmark Life Sciences shares in the unofficial market.