Glenmark Life Sciences Ltd, a wholly-owned subsidiary of Glenmark Pharmaceuticals Ltd, has filed a draft crimson herring prospectus with the Securities and Exchange Board of India (SEBI) for elevating Rs 1,160 crore via share sale through preliminary public providing (IPO).
The IPO includes a contemporary concern of as much as Rs 1,160 crore and a suggestion on the market of as much as 73.05 lakh fairness shares of Rs 2 every of Glenmark Life Sciences by Glenmark Pharmaceuticals.
The board of administrators has accorded its approval for the provide on the market, the corporate stated in a press release. The IPO might be topic to market circumstances receipt of relevant approvals and different issues.
Kotak Institutional Banking, BofA Securities, Goldman Sachs, DAM Capital Advisors, BOB Capital Markets and SBI Capital Markets are the ebook operating lead managers to the problem and KFin Technologies is registrar to the provide.
Glenmark Pharma shares ended 1.23 per cent larger at Rs 578.95, outperforming the Sensex which fell 1.81 per cent.
