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IPO OF GLENMARK LIFE SCIENCES LIMITED

Glenmark Lifesciences 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 diseases, gastro-intestinal disorders etc.

The company is also increasingly providing contract development and manufacturing operations (“CDMO”) services to a range of multinational pharmaceutical and specialty pharmaceutical companies. Glenmark Lifesciences is a research and development (“R&D”) driven API manufacturer, focused on undertaking dedicated R&D in existing products and also in areas where there a strong belief of growth potential in the future.

Glenmark Lifesciences is currently a wholly-owned subsidiary of its Promoter, Glenmark Pharmaceuticals Limited (“Glenmark”), a research-oriented, global pharmaceutical company, which was established in 1977 and is listed on the BSE and NSE.

In 2019, the API manufacturing business of Glenmark Pharmaceuticals was sold and spun off into Glenmark Lifesciences as part of a broader reorganization designed to place Glenmark on an accelerated trajectory to attain its objectives in three different verticals. Following the Spin-off, Glenmark Lifesciences operates as an independent, professionally-managed global API business.

As of March 31, 2021, the company had a portfolio of 120 molecules globally and sold APIs in India and exported to multiple countries in Europe, North America, Latin America, Japan and the rest of the world.

GLENMARK LIFE SCIENCES LIMITED IPO DETAIL
Issue Period:
July 27, 2021 – July 29, 2021

Face Value
Rs. 2

Price Band
Rs. 695-720

Market Lot
20

Issue Size and Objects of the Offer
Rs. 1513.60 crore (at upper price band)

WHY INVEST IN GLENMARK LIFE SCIENCES LIMITED
01. Leadership in Select High Value, Non-Commoditized APIs in Chronic Therapeutic Areas: The total market size in terms of sales for the company’s portfolio of 120 molecules globally was estimated to be around US$142 billion in 2020 and is expected to grow by about 6.8% over the next five years to reach to about US$211 billion by 2026.

02. Strong Relationships with Leading Global Generic Companies: As of March 31, 2021, 16 of the 20 largest generic companies globally were customers of Glenmark Lifesciences Limited (Source: “A Year of Surprises Shakes Up Off-Patent Industry” | Informa, 2020.

03. Strong Focus on Sustainability in Operations: Various initiatives have been taken up – relating to energy efficiency, recovery and reuse of solvents and water conservation, recovery and reuse to reduce carbon footprint. All the manufacturing facilities currently have zero liquid discharge (“ZLD”) capabilities.

To Apply, Contact: 9779270009, 9872022300, 9872722300

Source: ICICI Securities

Tuesday, July 27, 2021