Glenmark Life Sciences IPO opens today: Price band from Rs 695 to Rs 720; all you need to know

The initial public offering (IPO) of Glenmark Life Sciences Limited opens for subscription today, Tuesday, 27 July. The price band of the Glenmark IPO has been fixed at Rs 695 to Rs 720. It will close for subscription on Thursday, 29 July. In the grey market on Monday, 26 July, the shares of Glenmark Life were available at Rs 135. The lot size of Glenmark IPO is 20 shares and its multiples thereafter. Retail investors can subscribe to a maximum of 13 lots. The Glenmark IPO consists of a fresh issue of Rs 1,060 crore. The promoter of the company Glenmark Pharma is presenting an offer for sale (OFS) for as many as 63 lakh shares. The issue size is up to Rs 1,513.6 crore. As much as 35 percent of the IPO portion is reserved for retail investors while 15 percent is for non-institutional bidders. Qualified institutional buyers have 50 percent of the offer reserved for them. As reported by the Mint, Glenmark Life has a Return on capital employed (ROCE) of 46.7 percent. Its ROCE is better than Divis Lab. The Glenmark IPO book-running lead managers and global coordinators are Goldman Sachs (India) Securities, Kotak Mahindra Capital Company and BofA Securities India. Several analysts have given a subscribe rating to the IPO. Stating that the company is a leader in some of the therapeutic areas, Marwadi Shares and Finance allotted a subscribe rating. Angel Broking has given a positive outlook on the Glenmark Life Sciences IPO and it expects listing gains of 25 percent to 35 percent