Glenmark Life Sciences, the developer and producer of commoditized lively pharmaceutical components in continual healing areas, will release its preliminary public imparting for subscription withinside the coming week.
Here are 10 key matters to recognise earlier than subscribing public trouble:
1) Public Issue
The preliminary public imparting accommodates a clean trouble of Rs 1,060 crore and a suggestion on the market of as much as sixty three lakh fairness stocks through promoter Glenmark Pharmaceuticals.
2) IPO Dates
The provide will open for subscription on July 27 and could near on July 29, 2021. Anchor ee-e book, if any, will open for bidding for an afternoon on July 26, an afternoon earlier than the problem opens.
3) Price Band and Fund Raising
The charge band for public provide has been constant at Rs 695 – Rs 720 in keeping with fairness percentage.
The business enterprise is making plans to elevate Rs 1,497.eighty five crore on the lower, and Rs 1,513.6 crore on the better quit of the charge band.
4) Objectives of the problem
Glenmark Life Sciences will use the proceeds for price of brilliant buy attention to the promoter for spin-off of the API enterprise from the promoter into the business enterprise pursuant to the Business Purchase Agreement dated October 9, 2018 (Rs 800 crore), for investment capital expenditure requirements (Rs 152.seventy six crore), and for preferred company purposes.
5) Lot Size and Reserved Portion Category-wise
The minimal software that may be made through an investor might be for 20 fairness stocks and in multiples of 20 fairness stocks thereafter. Retail buyers can make investments at the least Rs 14,four hundred in keeping with lot and the most funding might be Rs 1,87,2 hundred (for thirteen lots) on the better quit of the charge band, as they’re allowed to make investments as much as Rs 2 lakh.
The business enterprise in session with service provider bankers determined to order as much as 50 percentage of the provide for certified institutional buyers, up to fifteen percentage for non-institutional bidders, and as much as 35 percentage for retail person bidders.
All capacity bidders, apart from anchor buyers, must mandatorily utilise the Application Supported through Blocked Amount (ASBA) process.
6) Company Profile
In 2019, the API production enterprise of Glenmark Pharma changed into offered and spun off into Glenmark Life as a part of a broader reorganization designed to vicinity Glenmark Pharma on an expanded trajectory to acquire its goals in 3 exclusive verticals, with Glenmark Life focusing at the API enterprise. Following the spin-off, the business enterprise operates as an independent, professionally-controlled worldwide API enterprise.
Glenmark Life Sciences is a main developer and producer of pick out excessive value, non-commoditized lively pharmaceutical components (APIs) in continual healing areas, inclusive of cardiovascular disease (CVS), crucial frightened device disease (CNS), ache control and diabetes, as in keeping with Frost & Sullivan report. It additionally manufactures and sells APIs for gastro-intestinal disorders, anti-infectives and different healing areas.
The business enterprise has robust marketplace percentage in pick out specialised APIs including Telmisartan (anti-hypertensive), Atovaquone (anti-parasitic), Perindopril (antihypertensive), Teneligliptin (diabetes), Zonisamide (CNS) and Adapalene (dermatology). The business enterprise additionally more and more more affords settlement improvement and production operations (CDMO) offerings to more than a few multinational and distinctiveness pharmaceutical businesses.
As of March 2021, Glenmark Life had a portfolio of a hundred and twenty molecules globally and offered APIs in India and exported APIs to more than one nations in Europe, North America, Latin America, Japan and the relaxation of the world (ROW). As of May 31, 2021, it had filed 403 Drug Master Files (DMFs) and Certificates of suitability to the monographs of the European Pharmacopoeia (CEPs) throughout numerous essential markets (i.e. United States, Europe, Japan, Russia, Brazil, South Korea, Taiwan, Canada, China and Australia).
As of March 31, 2021, sixteen of the 20 biggest general businesses globally have been its customers.
It presently operates 4 multi-reason production centers at Ankleshwar and Dahej in Gujarat, and Mohol and Kurkumbh in Maharashtra with an mixture annual general mounted potential of 726.6 KL as of March 31, 2021.
The business enterprise intends to growth its API production talents at Ankleshwar facility at some point of FY22, and Dahej facility at some point of FY22 and FY23 through an mixture annual general mounted potential of 2 hundred KL. This extra manufacturing potential is predicted to assist the business enterprise similarly increase general API manufacturing and additionally develop oncology product pipeline.
7) Strengths and Strategies
a) It has management in pick out excessive value, non-commoditized APIs in continual healing areas.
b) It has robust relationships with main worldwide general businesses.
c) It has quality-centered compliant production and R&D infrastructure.
d) It is centered on sustainability in operations via significant interventions in surroundings control, protection projects in operations and occupational fitness of workforce.
e) It strives to attain fee management throughout merchandise via cautious tracking and non-stop effort.
f) It has a expert and skilled control crew with confirmed music record.
Strategies
a) It intends to increase the geographic focus, API portfolio and scope of its operations.
b) It intends to develop its CDMO enterprise.
c) It intends to increase its manufacturing capacities.
d) It always goals to enhance monetary overall performance through that specialize in improving operational efficiencies.
8) Financials
Glenmark Life pronounced earnings for the monetary 12 months FY21 at Rs 351.fifty eight crore on sales of Rs 1,885.sixteen crore, towards earnings of Rs 313.09 crore on sales of Rs 1,537.31 crore in FY20. Profit withinside the monetary 12 months FY19 stood at Rs 195.fifty nine crore on sales of Rs 886.forty two crore.
9) Promoters and Management
Glenmark Pharmaceuticals is the promoter of the business enterprise, maintaining a hundred percentage of the pre-provide stake in Glenmark Life.
Glenn Saldanha is the Chairman and non-government director of the business enterprise. He holds a bachelor’s diploma in pharmaceutical sciences from University of Bombay. He additionally holds a master’s diploma in enterprise management from the Leonard N. Stern School of Business at New York University. He is likewise the chairman and dealing with director of promoter, Glenmark Pharmaceuticals.
VS Mani is a non-government director of the business enterprise. He is a certified chartered accountant. Prior to becoming a member of the business enterprise, he changed into the president (finance) on the Bhartiya City Developers, and leader monetary officer at Cipla. He is likewise an government director and worldwide leader monetary officer of Glenmark Pharmaceuticals.
Yasir Rawjee is the Managing Director and Chief Executive Officer of the business enterprise. He holds a bachelor’s diploma in technological know-how from St. Xavier’s College, University of Bombay and a bachelor’s diploma in technological know-how (technology) from University Department of Chemical Technology, University of Bombay. He additionally holds a PhD from Texas A&M University, USA. Prior to becoming a member of the business enterprise, he changed into the pinnacle of world API operations at Mylan Laboratories, senior vp at Matrix Laboratories, and has labored in GlaxoSmithKline withinside the USA.
Sumantra Mitra is the government director and vp – human sources branch of the Company. He holds a bachelor’s diploma in social paintings from Visva Bharati University and a master’s diploma in social paintings from University of Pune. He holds a degree in labour regulation and labour welfare from Symbiosis Society’s Law College, Pune. Prior to becoming a member of Glenmark Life, he changed into the vp – human sources at Nilkamal, additionally labored with Mahindra & Mahindra withinside the car sector, and Glenmark Pharmaceuticals.
Sridhar Gorthi, Manju Agarwal, Taruvai Laxminarayanan Easwar, and Gita Nayyar are Independent Directors at the board.
Bhavesh Pujara is the Senior Vice President and Chief Financial Officer of the business enterprise. He is a chartered accountant from the Institute of Chartered Accountants of India. He additionally has a diploma in bachelor of trade from the Maharaja Sagajirao University of Baroda. Prior to becoming a member of the business enterprise, he has labored with Lupin. He has additionally been related to Eli Lilly and Company (India), and Dr. Reddy’s Laboratories.
10) Allotment, refunds and list dates
Glenmark Life will finalise the IPO percentage allotment round August 3, and the budget may be refunded or unblocked from ASBA account round August 4, 2021.
Eligible buyers gets their stocks of their demat money owed round August 5, and stocks will debut at the bourses on August 6.
Its fairness stocks are proposed to be indexed on BSE and NSE.
Kotak Mahindra Capital Company, BofA Securities India and Goldman Sachs (India) Securities are the worldwide co-ordinators and ee-e book strolling lead managers to the provide. DAM Capital Advisors, BOB Capital Markets and SBI Capital Markets are the ee-e book strolling lead managers to the provide.
