Glenmark Life Sciences Ltd

Glenmark Life Sciences Ltd

The company was incorporated as `Zorg Laboratories Private Limited' a private limited company under the Companies Act 1956 on 23 June 2011 at Pune and was granted the certificate of incorporation by the Registrar of Companies Maharashtra at Pune (RoC). Subsequently the Company was acquired by Glenmark Pharmaceuticals Limited pursuant to the Share Purchase Agreement dated 04 July 2018 and the name of the Company was changed to `Glenmark Life Sciences Private Limited' pursuant to a special resolution passed by the shareholders of the Company on 25 July 2018 and a fresh certificate of incorporation dated 10 August 2018 was issued by the RoC. A shareholders' resolution was passed on 13 August 2018 to convert the Company from a private limited company to a public limited company and a fresh certificate of incorporation dated 28 August 2018 was issued by the RoC. The Company is a wholly owned Subsidiary of Glenmark Pharmaceuticals Limited. The Company acquired API division of Glenmark Pharmaceuticals Limited (the parent company) on 01 January 2019.The company is primarily engaged in the business of developmentmanufacture and marketing of Active Pharmaceutical Ingredients(APIs). The company's R&D facilities are located at MahapeAnkleshwar and Dahej and manufacturing facilities are located at AnkleshwarDahejMohol and Kurkumbh.During the year 2018-19 the company allotted 450090 Equity Shares of Rs. 10/- each on the conversion of loan given to Director. During the year 1500000 equity shares of the face value of Rs. 10 each fully paid-up issued to Glenmark Pharmaceuticals Limited (Parent Company) pursuant to the Preferential Allotment. Subsequent to the quarter ended 30 June 2021 the company has completed the IPO of 21022222 equity shares comprising a fresh issue of 14722222 equity shares and offer for sale of 6300000 equity shares of face value of Rs 2 each at premium of Rs 718 per share aggregating to Rs 15136 million. Pursuant to the IPO the equity shares of the Company are listed on BSE Limited and National Stock Exchange of India Limited with effect from 06 August 2021.The Gross Debt comprising of Outstanding Purchase Consideration payable to the Parent Company was Rs 8008.3 million as on 09 July 2021.The Company has repaid the whole of this remaining outstanding purchase consideration from the proceeds of the Fresh Issue pursuant to the IPO.