Glenmark Life Sciences IPO subscribed 2.78 times on Day 1; non-institutional investors remain cautious

Glenmark Life Sciences IPO subscribed 2.78 instances on Day 1; non-institutional buyers stay cautious

Glenmark Life Sciences hopes to boost as much as Rs 1,513.6 crore by means of the general public problem which opened at the moment at a worth band of Rs 695-720 per fairness share

The preliminary public providing (IPO) of Glenmark Life Sciences was subscribed 2.78 instances on opening day (at the moment, 27 July). The IPO acquired bids for as many as 4,17,16,740 shares on Day 1 towards its complete dimension of 1,50,18,279 shares.

The value band for Glenmark IPO has been mounted at Rs 695-720 per fairness share.

The portion reserved for retail buyers was subscribed 5.16 instances whereas these for non-institutional buyers was subscribed 0.85 instances. The portion for Certified institutional consumers has not opened for subscription but.

As Novi Reporter had reported earlier, as a lot as 35 p.c of the IPO is reserved for retail buyers. Whereas 15 perent of the problem has been reserved for non-institutional bidders, 50 p.c of the problem has been reserved for Certified institutional consumers.

The producer of energetic pharmaceutical components (APIs) in power therapeutic areas opened its IPO for subscription at the moment (27 July). The IPO will shut for subscription on Thursday (29 July).

The Glenmark Life Sciences will elevate as much as Rs 1,513.6 crore by means of the general public problem. It includes a recent problem price Rs 1,060 crore in addition to a proposal on the market (OFS) of 63 lakh fairness shares by its promoter Glenmark Pharma.

See also  Sensex surges 256 points; Nifty closes at 14,823; top gainers and losers-Business News , Novi Reporter

On 26 July, a day earlier than the openin of the problem, the IPO dimension was lowered after Glenmark Life Sciences raised Rs 454 from its anchor buyers.

Within the gray market, the shares of the corporate have been obtainable at a premium of Rs 110. It’s anticipated that the problem can be listed on the inventory exchanges on 6 August. A number of buyers have given the Glenmark IPO a subscribe ranking. BofA Securities India, Kotak Mahindra Capital Firm and Goldman Sachs (India) Securities are the e book managers for the Glenmark IPO.

#Glenmark #Life #Sciences #IPO #subscribed #instances #Day #noninstitutional #buyers #stay #cautious

Leave a Reply

Your email address will not be published. Required fields are marked *