Glenmark Pharmaceuticals’ arm files draft red herring prospectus with SEBI for IPO

17 Apr 2021

Glenmark Life Sciences, a wholly owned subsidiary of Glenmark Pharmaceuticals, has on April 16, 2021, filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offer, comprising of a fresh issue of up to Rs 11,600 million and an offer for sale of up to 7,305,245 equity shares of Rs 2 each of Glenmark Life Sciences, by Glenmark Pharmaceuticals (Offer).

In connection with the aforementioned Offer, the board of directors of Glenmark Pharmaceuticals, at its meeting held on April 16, 2021, accorded its approval for the offer for sale of up to 7,305,245 equity shares of Rs 2, in the Offer.

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

Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.

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