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Glenmark Pharmaceuticals informs about proposed IPO of wholly owned subsidiary

17 Apr 2021 Evaluate

Glenmark Pharmaceuticals has informed that 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.

The above information is a part of company’s filings submitted to BSE.

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Company Name CMP
Sun Pharma. Inds. 1759.65
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