Glenmark Life Sciences files RHP with ROC

Glenmark Pharmaceuticals said its wholly-owned subsidiary, Glenmark Life Sciences, has filed red herring prospectus (RHP) with the Registrar of Companies, Pune at Maharashtra (ROC).

"The RHP has been taken on record by the ROC on 20 July 2021," the company said in an exchange filing made during market hours today.

Glenmark Life Sciences had filed the draft red herring prospectus (DRHP) in connection with its proposed initial public offering of equity shares with the Securities and Exchange Board of India on 16 April 2021.

The issue comprises of fresh issue of shares aggregating up to Rs 1,060 crore and an offer for sale (OFS) by Glenmark Pharmaceuticals of up to 63 lakh equity shares.

The issue will open for biding on 27 July 2021 and will close on 29 July 2021. Anchor investor bid/offer period will be one working day prior to the bid/offer opening date i.e. 26 July 2021.

Glenmark Life Sciences is a leading developer and manufacturer of Active Pharmaceutical Ingredients (APIs).

Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across generics, specialty and over-the-counter (OTC) business with operations in over 50 countries. Its key therapy focus areas globally are respiratory, dermatology and oncology.

Glenmark Pharma's consolidated net profit rose 6.2% to Rs 233.87 crore on 4.4% increase in net sales to Rs 2,829.89 crore in Q4 March 2021 over Q4 March 2020.

The Glenmark Pharma scrip fell shed 0.67% to currently trade at Rs 677.30 on the BSE.

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