Post the above allotment, the shareholding percentage of Glenmark in Glenmark Life Sciences has reduced from 100% to 82.84%.
The IPO comprised of a fresh issue of 14,722,222 equity shares by Glenmark Life Sciences and an offer for sale of 6,300,000 equity shares by the Company. The IPO opened for subscription on July 27, 2021, and closed on July 29, 2021.
Glenmark Life Sciences filed the prospectus with the ROC on July 30, 2021.
The IPO was oversubscribed by 44.17 times. A price band of Rs695 to Rs720 per equity share was set.
On Sensex, Glenmark closed at Rs596.10 per piece down 1.3%.