Glenmark Pharma arm files papers for IPO with Sebi
Glenmark Pharmaceuticals on Saturday said its wholly-owned arm Glenmark Life Sciences has filed preliminary papers for an initial public offer with Sebi.
The offer comprises fresh issue of shares worth up to Rs 1,160 crore and an offer for sale of up to 73,05,245 equity shares of Rs 2 each of Glenmark Life Sciences, by Glenmark Pharmaceuticals, the filing said.
The IPO will be subject to market conditions and approvals.
Pharma exports from India witnessed an over 18 per cent growth to $24.44 billion during the last financial year against $20.58 billion in 2019-20, Pharmaceuticals Export Promotion Council of India (Pharmexcil) said on Saturday.