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Monday, September 27, 2021

Glenmark Life Sciences IPO share allotment status: Here’s how to check your shares

Glenmark Life Sciences IPO allotment status: Initial public offering (IPO) of Glenmark Life Sciences, the wholly-owned subsidiary of Glenmark Pharmaceuticals, was subscribed 44.17 times and the shares will now get allotted to investors. Here's how to check if you have been allotted the shares.

By: Express Web Desk | New Delhi |
Updated: August 3, 2021 9:28:00 pm
Glenmark Life Sciences IPO, Glenmark Life Sciences shares, Glenmark Life Sciences share allotmentGlenmark Life Sciences IPO was available for subscription during July 27-29, 2021. (Image source: Glenmark Life Sciences)

Glenmark Life Sciences IPO share allotment status: The initial public offering (IPO) of Glenmark Life Sciences, a wholly-owned subsidiary of Glenmark Pharmaceuticals, was subscribed 44.17 times over the 1.50 crore shares that were on offer during the subscription period from July 27-29, 2021. The price band was fixed at Rs 695-720 per share.

Glenmark Life Sciences IPO received bids of over 66.33 crore (66,33,24,160) shares against the total issue size of over 1.50 crore (1,50,18,279) shares, data available with the National Stock Exchange (NSE) showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 36.97 times, while those of non institutional investors was subscribed a whopping 122.54 times and that of retail individual investors (RIIs) was subscribed 14.63 times, the data showed.

Glenmark Life Sciences is a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management and diabetes. It also manufactures and sells APIs for gastro-intestinal disorders, anti-infectives and other therapeutic areas.

The IPO of Glenmark Life Sciences has a total size of Rs 1,513.6 crore comprising of a fresh issue of equity shares worth Rs 1,060 crore and an offer for sale (OFS) comprising of up to 63 lakh equity shares worth Rs 453.6 crore by Glenmark Pharma.

Investors are now looking forward to the share allotment date of the Glenmark Life Sciences IPO. The company was initially supposed to finalise the allotment by Tuesday, August 3, 2021, as per the timeline provided in the red herring prospectus (RHP). However, the registrar’s website shows that it will get allotted on Wednesday, August 4, 2021. In case you have applied for the Glenmark Life Sciences IPO, then here is how you can check the status of your allotment when it gets declared:

  • The allotment status will get updated on the website of the registrar of the IPO, which in this case is KFin Technologies (Click here: Applicants will need to select GLENMARK LIFE SCIENCES LIMITED in the drop-down menu and enter either their Application No. or DPID/Client ID or PAN, enter the Captcha code (which is shown in digits) and click on Submit to view their allotment status.
  • Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: Here, they will need to select Equity in Issue Type, then select GLENMARK LIFE SCIENCES LIMITED from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.

The listing of shares of Glenmark Life Sciences is likely to take place on Friday, August 6, 2021, on both the NSE and BSE.

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