Glenmark Life Sciences IPO Subscription Status: FINAL
Glenmark Life Sciences Limited, incorporated in 2001, is a wholly-owned subsidiary of Glenmark Pharmaceuticals Limited (“Glenmark”). It 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.
| Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB) | 50% | 36.97x |
| Non-Insti. (HNI) | 15% | 122.54x |
| Retail (RII) | 35% | 14.63x |
| Total Subscription | 100% | 44.17x |
Glenmark Life Sciences IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 1.38x | 36.97x |
| HNI | 0.85x | 3.39x | 122.54x |
| Retail | 5.16x | 9.25x | 14.63x |
| Total | 2.78x | 5.77x | 44.17x |
Glenmark Life Sciences IPO Subscription: Analyst Recommendations
CHOICE BROKING – SUBSCRIBE [ Report ]
“At higher price band of Rs. 720, GLS is demanding a P/E valuation of 25.1x (to its restated FY21 EPS of Rs. 28.7), which is at discount to the peer average of 37.5x. However, based on the forecasted FY24E earnings, the demanded valuation comes out to be 11.4x, which seems to be attractive for a company generating a RoE of around 20%”
Marwadi Financial Services – SUBSCRIBE
“Considering the FY21 adjusted EPS of Rs 28.69 on post issue basis, the upper price band implies a P/E of 25.09 with a market-cap of Rs 8,822 crore, while its peers namely Divi’s Laboratories, Laurus Labs and Shilpa Medicare are trading at a P/E of 64.0, 36.1 and 36.5, respectively,”
ICICI SECURITIES – SUBSCRIBE
“Glenmark Life has a good performance execution and clean regulatory track record. The growth momentum also has a strong undercurrent of global API industry growth,”
SUBSCRIBE – Anand Rathi, Geojit Financial Services, Hem Securities, Marwadi, Religare Broking
Glenmark Life Sciences IPO Subscription: Key IPO Details
| Type | Value |
|---|---|
| Issue Size | ₹1,513.6 Cr |
| Open Date | 27/07/2021 |
| Close Date | 29/07/2021 |
| Face Value | ₹2/- per Equity Share |
| IPO Price | ₹695 – ₹720 |
| Lot Size | 20 shares |
| Lots | Min 1 – Max 13 |
Glenmark Life Sciences IPO Subscription: Financials
| 2019 | 2020 | 2021 | |
|---|---|---|---|
| Revenue from Ops | ₹886.42 Cr | ₹1537.31 Cr | ₹1885.17 Cr |
| Profit before Excep* | ₹228.30 Cr | ₹421.07 Cr | ₹470.94 Cr |
| Profit after Tax | ₹195.59 Cr | ₹313.10 Cr | ₹351.58 Cr |
| EPS (Basic) | 24.64 | 29.04 | 32.61 |
| As of March 2020 | EPS (Avg*) | P/E (Floor) | P/E (Cap) |
|---|---|---|---|
| Based on basic EPS | 30.09 | 23.10 | 23.93 |
Comparison with listed industry peers
| Company | P/E (Cap) |
|---|---|
| Glenmark Life Sciences | 23.93 |
| Highest (Divis Lab.) | 63.65 |
| Lowest (Aarti Drugs) | 24.28 |
| Sector Avg | 36.74 |
Glenmark Life Sciences IPO Subscription – FAQs
1. How to apply for Glenmark Life Sciences IPO in the Retail Category?
A: An investor in the retail category may either apply through the UPI process via DEMAT account or the ASBA process via bank account
2. How to apply for Glenmark Life Sciences in HNI Category?
A: An investor can apply in the HNI category only through the ASBA process via bank account
3. Where can I find the Red Herring Prospectus (RHP) details?
A: You can visit the NSE or SEBI website for these details. Alternately you can click here: RHP
