Incorporated in 2011, Glenmark Life Sciences is the leading manufacturer of Active Pharmaceutical Ingredients (APIs). The company develops, manufactures, and supplies high-quality APIs for cardiovascular disease (CVS), central nervous system disease (CNS), pain management, and diabetes, gastrointestinal disorders, anti-infectives, and other therapeutic areas. It further operates in Contract Development and manufacturing operations (CDMO) to offer services to specialty Pharmaceutical companies.
Its products are being sold in India and also expoted to multiple countries i.e. Europe, North America, Latin America, Japan, etc. Currently, it has 4 manufacturing facilities at Ankleshwar and Dahej in Gujarat and Mohol and Kurkumbh in Maharashtra State with an aggregate annual installed capacity of 725.8 KL as of December 31, 2020.
Competitive strengths
- Leading manufacturer of selected specialized APIs for chronic therapeutic areas like CVS, CNS, diabetes, and pain management.
- Export products in Europe, Latin America, North America, Japan, and the rest of the world.
- Strong relationship with leading global generic companies.
- Proven track record of strong financial performance.
- High-quality product manufacturing with R&D infrastructure.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Payment of outstanding purchase consideration to the Promoter for thespin-off of the API business from the Promoter into our Companypursuant to the Business Purchase Agreementdated October 9, 2018 | ₹800 |
| 2 Funding the capital expenditure requirements | ₹153 |
| 3 General corporate purposes | ₹58 |
| Metric | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
|---|---|---|---|
| Total Assets | 1,997 | 1,726 | 1,475 |
| Revenue | 1,886 | 1,549 | 887 |
| PAT | 352 | 313 | 196 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 10,511,110 (50%) | — |
| NII / HNI | — | 3,153,334 (15%) | — |
| Retail (RII) | — | 7,357,778 (35%) | — |
| Total | — | 21,022,222 (100%) | — |
* Amount calculated at upper price band (₹720) · ** Total includes all investor categories
- 1 Initiation of Refund 04 Aug 2021
- 2 Credit of Shares to Demat 05 Aug 2021
- 3 Lock-in Period (30%) September 2, 2021
- 4 Lock-in Period (50%) November 1, 2021
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 50%.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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