Glenmark Life Sciences IPO will hit the market on 27th July 2021. The company plans to raise ₹1060 crore through the fresh issue and the offer for sale will be 63 lakhs shares. Glenmark Life Sciences is an API arm of Glenn Mark Pharma, a listed drug maker in India. Glenmark life science has a 120 API product portfolio. The company supplies its API to 540 pharma companies in India and overseas. The company exports its products to Europe, Latin America, North America, Japan, and the rest of the world. The company is raising ₹1060 crores for funding of capital expenditure requirements and other corporate purposes. The company has performed well in the last 3 years where company’s revenue have increased from Rs 887 crores in 2019 to Rs 1418 crores in 9MFY2021, and Profit after-tax has increased from Rs195 crores in 2019 to Rs 247 in 9MFY2021.
We have a neutral view of Glenmark life sciences IPO and company has no quota for the existing shareholders of Glenmark pharmaceuticals limited.
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