The price band for the initial share sale is fixed at ₹695 to ₹720 per share. Glenmark Pharma holds 100% stake in Glenmark Life Sciences. As per market observers, Glenmark Life shares are available at a premium of ₹185 in the grey market today. Glenmark Life is a manufacturer of select high value, non-commoditized active pharmaceutical ingredients (APIs) in chronic therapeutic areas. For the year ended March 31, Glenmark Life had revenues of ₹1,537 crore and net profit of ₹314 crore.

Source: Mint July 23, 2021 10:18 UTC