Home Business

Glenmark Life Sciencesā€‹ files preliminary papers for IPO with SEBI

The board of directors of Glenmark Pharmaceuticals Ltd during its meeting on April 16 approved the offer for sale of up to 73,05,245 equity shares of Rs 2 apiece as part of the IPO.

Published: 17th April 2021 03:09 PM  |   Last Updated: 17th April 2021 03:09 PM   |  A+A A-

Glenn Saldanhaa, Glenmark Pharmaceuticals

Glenmark Pharmaceuticals CEO Glenn Saldanhaa (Photo| Facebook/ Mex Studios)

By PTI

NEW DELHI: Glenmark Pharmaceuticals on Saturday said its wholly-owned arm Glenmark Life Sciences has filed preliminary papers for an initial public offer with market regulator SEBI. Glenmark Life Sciences has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offer, according to a regulatory filing.

The filing said that the offer comprises fresh issue of up to Rs 1,160 crore and an offer for sale of up to 73,05,245 equity shares of Rs 2 each of Glenmark Life Sciences Ltd, by Glenmark Pharmaceuticals Ltd. The board of directors of Glenmark Pharmaceuticals Ltd during its meeting on April 16 approved the offer for sale of up to 73,05,245 equity shares of Rs 2 apiece as part of the IPO.

The IPO will be subject to market conditions, receipt of applicable approvals and other considerations, the filing said.

Now we are on Telegram too. Follow us for updates
TAGS
Glenmark Life Sciences Glenmark Pharmaceuticals SEBI Glenmark DRHP
India Matters

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

Fifa World Cup
flipboard facebook twitter whatsapp