Glenmark Life Sciences Ltd. has announced public offering of 21022222 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 718.00 per share. The gross proceeds of the issue are expected to be Rs 1,51,360.00 lakhs.

The company's initial public offer (IPO) will open on 27 July 2021 and is expected to close on 29 July 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 695.00-720.00 per share.

The IPO includes a fresh Issue of 21022222 Equity Shares of the Company at an price of Rs 720.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 20 shares with bids in multiples of 20.

Glenmark Life Sciences Ltd. anticipates using the proceeds of the issue for Payment of outstanding purchase consideration to the Promoter for the spinoff of the API business from the Promoter into the Company pursuant to the Business Purchase Agreement dated October , Funding capital expenditure requirements General corporate purposes.

Kotak Mahindra Capital Company Ltd.,Goldman Sachs (India) Securities Pvt. Ltd.,SBI Capital Markets Limited,DAM Capital Advisors Limited,BofA Securities India Limited,BOB Capital Markets Ltd. as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.