Investing in the market is a need of the hour, and youngsters need to develop a habit of investing from a very early age.’
After the pandemic of the corona, people started to take investing seriously and invested a lot in the market. During the pandemic, many companies faced financial disability and were forced to go public. However, not all the companies have a similar reason for going public, some had planned while some saw the opportunity.
One company whose IPO gained attention was the pharmaceutical company Glenmark Life sciences.
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Glenmark opened its Initial Public Offering (IPO), which was of good amount, and to be precise, the amount was Rs.1514 crores. The IPO opened on July 27, 2021, and the subscription of the IPO was closed on July 2021.
As the company is a big name in the pharmaceutical industry, people rushed to obtain the IPO and participated in a good number in the allotment process. The IPO is subscribed by all the classes of investors, retail investors, the Qualified Institutional Buyers(QIB), and the Non-Institutional Investor (NII) category. The overwhelming response of the buyers made the company’s IPO subscription reach 44.20 times more than the projected value by the experts.
Not much time has elapsed since the company was incorporated in the year 2011. The company has come a long way and has established a name in the Active Pharmaceutical Ingredients industry.
The company has the business of developing, manufacturing, and supplying high-quality Active Pharmaceutical Ingredients for cardiovascular disease (CVS), central nervous system disease (CNS), pain management, diabetes, gastrointestinal disorders, and many other usual and life-threatening ailments.
The company has an established and running market, not just in India, but also in countries like Japan, Europe, and various other countries in South America, and North America.
Overview Of Glenmark Life Sciences IPO
The issue size of the IPO of Glenmark was Rs 1,513.60 crore, with the issue by the company of about Rs 1,060 crore. The IPO also consisted of an Offer for Sale(OFS), which added up to around 454 crores. There were about 6,300,000 equity shares, which was at Rs 2 per share as the face value.
Grey Markey Premium (GMP) of Glenmark Life Sciences IPO
The company offered an initial IPO of Rs. 150 on its list of subscriptions, and the Grey Markey Premium was Rs 145.
The price band of the IPO was Rs 695 to Rs 720 per equity share, and considering this value of the IPO, it manifested that the premium of the IPO was trading in between Rs. 840 to Rs 865 on the market, which is not listed or unlisted. This phenomenon also manifested, and a frequent shift in the GMP throughout the IPO as the GMP on July 29, 2021, which is the last day, was Rs 140.
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Allotment And Listing Date Of Glenmark Life Sciences IPO
The date fixed for the allotment of the IPO of Glenmark Life Sciences is August 3, 2021. The refund of all those who could not win the bid is done on the following day that is August 4.
The recognition and verification of the Demat accounts of the successful bidders will be done on August 5, 2021. The listing of the shares of the company will be done on August 6, 2021. The dates are subject to change and we cannot be sure of the same.
Subscription Status (Club Lot Size and Subscription) of Glenmark Life Sciences IPO
Like every IPO, the company fixed a lot size for the shares, and the minimum amount of 20 shares have a total amount of Rs. 14,400 was necessary for every buyer.
The company also fixed the upper limit as 260 shares, having an aggregate value of Rs. 1,87,200. Only thirty-five percent of the total lot was kept for the retail investors. The retail investor subscription was also 15 times more than the normal one, while the QIBs were subscribed 37 times more than the limit. NII was also subscribed much more than the upper limit against the pre-decided 15 percent.
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Company Outlook
The vice-president made some statements before the IPO launch and said that “The global API market is expected to grow at a CAGR of 6.2% to reach about USD 259.3bn by 2026 from USD181.3bn in 2020.
The growth will be driven by innovative therapeutic drugs by various pharmaceutical and biotechnology companies. The rising prevalence of chronic disorders, increasing demand for personalized medicine, and emergence of novel drug delivery devices are some of the key factors expected to drive the API market over the next five years.
Further, the market of 120 products globally, (wherein GLSL is present) is expected to grow at a CAGR of 6.8% and reach USD 211bn by 2026, largely driven by the rising prevalence of non-communicable diseases and growing demand from the regulated markets for drugs.”
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