Glenmark Life Sciences has debuted at Rs 751.10 on the BSE, up by 31.10 points or 4.32% from its issue price of Rs 720.00.
The scrip is currently trading at Rs 765.70, up by 45.70 points or 6.35% from its issue price. It has touched a high and low of Rs 799.95 and Rs 737.35 respectively. So far 10.03 lakh shares were traded on the counter.
The offering which was opened for subscription between July 27, 2021 and July 29, 2021, was subscribed 44.17 times on the closing day of subscription. The issue price was fixed at Rs 720 per share i.e. at upper end of price band of Rs 695-720 apiece.
Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, is a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management and diabetes. The company also manufactures and sells APIs for gastro-intestinal disorders, anti-infectives and other therapeutic areas.