 "stock market, IPOs, investors, investments")
Glenmark Life Sciences, a developer and manufacturer of active pharmaceutical ingredients (APIs), has priced its initial public offer (IPO) between Rs 695 and Rs 720 per equity share. The company has reduced its offer size by about Rs 150 crore. Bankers to the issue said that the promoters have reduced their selling stake marginally.
When filing the draft red herring prospectus (DRHP), the company was planning to raise Rs 1,160 crore as fresh capital, and promoters were planning to sell 7.3 million shares.
The IPO now consists of a fresh issue of Rs 1,060 crore and an offer for sale
