Glenmark Life Sciences IPO

Incorporated in 2011, Glenmark Life Sciences is engaged in the production of high-value Active Pharmaceutical Ingredients (APIs). The company’s products are utilised to treat cardiovascular diseases as well as diabetes. They also cater to gastrointestinal disorders, central nervous system (CNS) therapy, along with other therapeutic areas. Presently, this company has four production facilities in Gujarat and Maharashtra. Besides manufacturing APIs, it also provides services to speciality pharmaceutical companies.

Glenmark Life Sciences IPO Objectives

- Meet its capital expenditure needs
- Fulfil its general corporate purposes
- Pay outstanding purchase consideration to the promoter for a spin-off of its Active Pharmaceutical Ingredients business.

Glenmark Life Sciences IPO - Details

On 16 July 2021, Glenmark Life Sciences filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI). Per the preliminary documents, its IPO would’ve included a fresh issue of Rs. 1,160 crores and an offer for sale of 7.3 million shares by its promoter, Glenmark Pharmaceuticals Limited.

Here are the fresh details in relation to Glenmark Life IPO that one should keep in mind:

Opening Date

Jul 27, 2021

Closing Date

Jul 29, 2021

Price Band

₹695 to ₹720

per equity share

Issue Size

₹ 1,060.00 Cr

Face Value

₹ 2

per equity share

Market Lot

20 Shares

Opening Date

Jul 27, 2021

Closing Date

Jul 29, 2021

Price Band

₹695 to ₹720

per equity share

Issue Size

₹ 1,060.00 Cr

Face Value

₹ 2

per equity share

Market Lot

20 Shares

Listing at NSE, BSE

Glenmark Life Sciences IPO Important Dates

IPO Open Date 27 July 2021
IPO Close Date 29 July 2021
Basis Of Allotment Date 03 Aug 2021
Initiation Of Refunds 04 Aug 2021
Credit Of Shares To
Demat ACcount
05 Aug 2021
IPO Listing Date 06 Aug 2021
UPI Mandate Expiry Date 12 Aug 2021

Glenmark Life Sciences IPO Latest News and Subscription Status Today [Live]

Day 3 : 29th July 2021
Day 2 : 28th July 2021
Day 1 : 27th July 2021

At 05:05 p.m.

- This IPO has been subscribed 44.16x by 5.05.00 PM. on Day 3
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 36.97x
- (NII) Non-institutional buyers: 122.54x
- (RII) Retail Individual buyers: 14.62x

 

At 04:10 p.m.

- This IPO has been subscribed 44.06x by 4.10.00 PM. on Day 3
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 36.93x
- (NII) Non-institutional buyers: 122.53x
- (RII) Retail Individual buyers: 14.44x

 

At 03:10 p.m.

- This IPO has been subscribed 32.11x by 3.10.00 PM. on Day 3
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 17.27x
- (NII) Non-institutional buyers: 95.54x
- (RII) Retail Individual buyers: 13.26x

 

At 02:20 p.m.

- This IPO has been subscribed 24.51x by 2.20.00 PM. on Day 3
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 10.80x
- (NII) Non-institutional buyers: 69.59x
- (RII) Retail Individual buyers: 12.91x

 

At 01:00 p.m.

- This IPO has been subscribed 9.50x by 1.00.00 PM. on Day 3
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 2.31x
- (NII) Non-institutional buyers: 13.58x
- (RII) Retail Individual buyers: 11.80x

 

At 12:45 p.m.

- This IPO has been subscribed 9.36x by 12.45:00 PM. on Day 3
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 2.29x
- (NII) Non-institutional buyers: 13.30x
- (RII) Retail Individual buyers: 11.65x

 

At 11:45 a.m.

- This IPO has been subscribed 7.10x by 11.45:00 AM. on Day 3
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.48x
- (NII) Non-institutional buyers: 5.78x
- (RII) Retail Individual buyers: 10.82x

 

At 10:45 a.m.

- This IPO has been subscribed 6.38x by 10.45:00 AM. on Day 3
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.40x
- (NII) Non-institutional buyers: 4.19x
- (RII) Retail Individual buyers: 10.12x

 

At 05:05 p.m.

- This IPO has been subscribed 5.78x by 5.05:00 PM. on Day 2
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.38x
- (NII) Non-institutional buyers: 3.39x
- (RII) Retail Individual buyers: 9.28x

 

At 04:05 p.m.

- This IPO has been subscribed 5.09x by 4.05:00 PM. on Day 2
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.70x
- (NII) Non-institutional buyers: 2.21x
- (RII) Retail Individual buyers: 8.79x

 

At 03:05 p.m.

- This IPO has been subscribed 4.61x by 3.05:00 PM. on Day 2
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.54x
- (NII) Non-institutional buyers: 1.89x
- (RII) Retail Individual buyers: 8.06x

 

At 02:05 p.m.

- This IPO has been subscribed 4.35x by 2.05:00 PM. on Day 2
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.54x
- (NII) Non-institutional buyers: 1.56x
- (RII) Retail Individual buyers: 7.69x

 

At 01:05 p.m.

- This IPO has been subscribed 3.99x by 1.05:00 PM. on Day 2
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 1.41x
- (RII) Retail Individual buyers: 7.32x

 

At 11:45 a.m.

- This IPO has been subscribed 3.62x by 11.45:00 AM. on Day 2
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 1.19x
- (RII) Retail Individual buyers: 6.69x

 

At 10:45 a.m.

- This IPO has been subscribed 3.24x by 10.45:00 AM. on Day 2
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 1.03x
- (RII) Retail Individual buyers: 6.01x

 

At 05:10 p.m.

- This IPO has been subscribed 2.78x by 5:10:00 PM. on Day 1
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: xxx
- (NII) Non-institutional buyers: 0.86x
- (RII) Retail Individual buyers: 5.17x

 

At 04:30 p.m.

- This IPO has been subscribed 2.64x by 4:30:00 PM. on Day 1
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: xxx
- (NII) Non-institutional buyers: 0.77x
- (RII) Retail Individual buyers: 4.93x

 

At 03:30 p.m.

- This IPO has been subscribed 2.46x by 3:30:00 PM. on Day 1
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: xxx
- (NII) Non-institutional buyers: 0.71x
- (RII) Retail Individual buyers: 4.60x

 

At 02:05 p.m.

- This IPO has been subscribed 1.93x by 2.05:00 PM. on Day 1
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: xxx
- (NII) Non-institutional buyers: 0.49x
- (RII) Retail Individual buyers: 3.624x

 

At 01:05 p.m.

- This IPO has been subscribed 1.52x by 1.05:00 PM. on Day 1
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: xxx
- (NII) Non-institutional buyers: 0.29x
- (RII) Retail Individual buyers: 2.91x

 

At 11:45 a.m.

- This IPO has been subscribed 1.05x by 11.45:00 AM. on Day 1
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: xxx
- (NII) Non-institutional buyers: 0.15x
- (RII) Retail Individual buyers: 2.02x

 

At 10:45 a.m.

- This IPO has been subscribed 0.51x by 10.45:00 AM. on Day 1
- It is a public issue of 1,50,18,279 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: xxx
- (NII) Non-institutional buyers: 0.04x
- (RII) Retail Individual buyers: 0.99x

 

Why should you invest in Glenmark Life Sciences?

Glenmark Life Sciences has strong relationships with the top global generic pharmaceutical companies worldwide, which ensures revenue visibility. This company may not have long-term contracts with its clients, but their relationships extend for more than five years.

In FY20, Glenmark Life’s sales surged 1.7% against the previous year’s numbers. Furthermore, this company’s EBITDA margins continue to remain healthy as well. Accordingly, investors might want to consider subscribing to Glenmark Life IPO.

Financial highlights

The table below represents a summary of Glenmark Life Science’s financials:

For the period ended Total Assets (in Rs. million) Total Revenue (in Rs. million) Total Expense (in Rs. million) Profit After Tax (in Rs. million)
Till 31-Dec-20 19,565.70 14,184.72 10,881.50 2,468.97
31-Mar-20 17,256.04 15,493.03 11,282.36 3,130.98
31-Mar-19 14,753.95 8,868.65 6,585.68 1,955.92
31-Mar-18 0.85 2.48 2.61 (4.34)

How to apply for Glenmark Life Sciences IPO?

You can apply for the Glenmark Life Sciences IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel Broking account. Proceed to book Glenmark Life Sciences IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel Broking, apply directly for Glenmark Life Sciences IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel Broking to begin your investment journey.

Glenmark Life Sciences IPO - Noteworthy Highlights

Here are some key highlights regarding Glenmark Life Sciences that investors must take into account:

- The company has over 110 Active Pharmaceutical Ingredients in their catalogue.

- Glenmark Life supplies APIs to more than 500 pharmaceutical companies in India and abroad.

- They export their products to different parts of the world, including Europe, North America, and Latin America.

- As of 31 December 2020, Glenmark Life Science’s installed capacity stood at 725.8 KL.

Glenmark Life Sciences IPO - SWOT Analysis

strengths

Strengths

  • Strong market position: Glenmark Life is a market leader of high-value, non-commoditised APIs concerning chronic therapeutic areas, diabetes, CNS, and more.
  • Favourable relations: Over the years, the company has managed to establish strong relationships with some of the best generic pharmaceutical companies worldwide.
  • Strong performance: From a financial standpoint, Glenmark Life Sciences has a proven track record.
  • High-quality products: Glenmark’s products are of top-notch quality, owing to its strong Research & Development infrastructure.
  • Healthy credit profile: Glenmark Life Sciences generated plenty of cash flow between FY19 and FY20, which led to the net negative debt. Accordingly, this company has an impressive credit profile.
Weaknesses

Weaknesses

  • Competitors: Over the years, Glenmark Life’s competitors have been making significant progress. Owing to the pricing pressure from customers, their gross margins may decrease, thereby affecting the company’s profitability. Thus, Glenmark Life Science may not be able to increase the prices of its products.
  • Working capital usage: For FY20, Glenmark Life has a working capital to sales ratio of 10.45%. It suggests that this company is not utilising its resources to the maximum.
Opportunities

Opportunities

  • Scope of expansion: With the company having a strong cash flow position, it has the potential to expand its operations further and gain a more significant market share.
  • Expanding customer base: Glenmark Life Sciences has a strong R&D infrastructure. It can enable this company to improve its products’ quality while reducing its costs. This could be instrumental in acquiring more customers.
Threats

Threats

  • Weak linkage with holding company: In case Glenmark Life Science’s linkages with its parent company, Glenmark Pharmaceuticals, weaken, the company’s liquidity position and credit profile could be adversely impacted.
  • Unfavourable regulatory event: The company’s operations could be impacted if any unfavourable regulatory event materialises owing to manufacturing or quality-related issues.
  • Incorrect forecast: In case this company fails to predict the demand for its products correctly, it would not be able to manage its inventory efficiently.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Strong market position: Glenmark Life is a market leader of high-value, non-commoditised APIs concerning chronic therapeutic areas, diabetes, CNS, and more.
  • Favourable relations: Over the years, the company has managed to establish strong relationships with some of the best generic pharmaceutical companies worldwide.
  • Strong performance: From a financial standpoint, Glenmark Life Sciences has a proven track record.
  • High-quality products: Glenmark’s products are of top-notch quality, owing to its strong Research & Development infrastructure.
  • Healthy credit profile: Glenmark Life Sciences generated plenty of cash flow between FY19 and FY20, which led to the net negative debt. Accordingly, this company has an impressive credit profile.

Weaknesses 

  • Competitors: Over the years, Glenmark Life’s competitors have been making significant progress. Owing to the pricing pressure from customers, their gross margins may decrease, thereby affecting the company’s profitability. Thus, Glenmark Life Science may not be able to increase the prices of its products.
  • Working capital usage: For FY20, Glenmark Life has a working capital to sales ratio of 10.45%. It suggests that this company is not utilising its resources to the maximum.

Opportunities 

  • Scope of expansion: With the company having a strong cash flow position, it has the potential to expand its operations further and gain a more significant market share.
  • Expanding customer base: Glenmark Life Sciences has a strong R&D infrastructure. It can enable this company to improve its products’ quality while reducing its costs. This could be instrumental in acquiring more customers.

Threats 

  • Weak linkage with holding company: In case Glenmark Life Science’s linkages with its parent company, Glenmark Pharmaceuticals, weaken, the company’s liquidity position and credit profile could be adversely impacted.
  • Unfavourable regulatory event: The company’s operations could be impacted if any unfavourable regulatory event materialises owing to manufacturing or quality-related issues.
  • Incorrect forecast: In case this company fails to predict the demand for its products correctly, it would not be able to manage its inventory efficiently.

Glenmark Life Sciences: A competitive analysis

Here’s a tabular representation offering insight regarding the competition Glenmark Life Sciences faces from its listed peers:
Company name Total income in millions (Rs.) Return on net worth
Glenmark Life Sciences 15,493.03 77.94%
Shilpa Medicare Limited 9,248.49 11.63%
Divis Laboratories Limited 55,840.50 18.83%
Laurus Labs Limited 28,366.76 14.42%
Solara Active Pharma Sciences Limited 13,492.70 10.55%
Aarti Drugs Limited 18,075.71 21.95%

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Glenmark Life Sciences IPO FAQs

What is Glenmark IPO?

Glenmark Life Sciences has filed a DRHP with market regulator SEBI to raise funds worth Rs. 1598 - 1614 crores. The IPO will include a secondary issue of 6.3 million shares.

Who is the registrar of Glenmark Life Sciences IPO?

The registrar of Glenmark Life IPO is KFin Technologies Private Limited.

Where to check Glenmark Life IPO allotment status?

One can check Glenmark Life Sciences IPO allotment status via the Angel Broking app and website. They can also check the same via BSE and NSE’s official portals.

How many shares can qualified institutional buyers (QIBs) subscribe to?

50% of the issue is reserved for qualified institutional buyers.

How will I receive shares of Glenmark Life Sciences IPO?

After the allotment, shares will be credited to investors’ DEMAT accounts.

Who are the merchant bankers of Glenmark Life Sciences IPO?

Bank of America Securities, BoB Caps, Goldman Sachs, DAM Capital, Kotak Mahindra Capital, and SBI Capital Markets

What is the minimum order quantity of Glenmark Life Sciences IPO?

The minimum order quantity of this IPO is 20 shares.

Which investor categories are allowed to participate in this IPO?

Qualified institutional buyers, retail investors, and non-institutional investors can subscribe to Glenmark Life Sciences IPO.

What is the listing date of Glenmark Life Sciences IPO?

The listing date of this IPO is tentatively set at 6 August 2021.

What is the face value of Glenmark’s initial public offering?

Rs. 2 per share.

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