Glenmark Life Sciences IPO
Glenmark Life Sciences Limited (GLS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 06 August 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +16.0% (likely range +5% to +35%), day's high +35.0%, chance of a gain 97%. Actual: +4.2% at the open, +11.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 42,42,379 | 15,68,29,300 | 37.0x | |
| NII (HNI) total | 32,32,770 | 39,61,29,640 | 123x | |
| Retail | 75,43,130 | 11,03,65,220 | 14.6x | |
| Total | 1,50,18,279 | 66,33,24,160 | 44.2x |
Bids on NSE and BSE together, as published by NSE, as of 29 Jul 2021, 05:00 PM. Shares offered exclude the anchor portion. 13% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Glenmark Life Sciences's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| RailTel Corporation of IndiaFeb 2021 | 65.1x | 73.3x | 16.8x | 42.4x | ₹820 Cr | +16.0% | +36.0% |
| BSEJan 2017 | 48.6x | 159x | 6.48x | 51.2x | ₹1,243 Cr | +34.6% | +48.9% |
| Shankara Building ProductsMar 2017 | 51.6x | 90.7x | 15.3x | 41.9x | ₹349 Cr | +20.7% | +38.3% |
| TeamLease ServicesFeb 2016 | 27.0x | 185x | 10.6x | 66.0x | ₹450 Cr | +1.2% | +21.4% |
| RITESJun 2018 | 71.7x | 195x | 15.7x | 67.2x | ₹799 Cr | +2.7% | +21.4% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| DAM Capital Advisors | 37 | +13.6% | 59% |
| BOB Capital Markets | 6 | +4.9% | 50% |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the Glenmark Life Sciences IPO price band and lot size? ₹695–720 per share, with a lot of 20 shares, so the smallest retail bid is ₹14,400.
How many times has it been subscribed? 44.2x overall: QIB 37.0x, NII 123x, retail 14.6x.
How did it list? It opened at ₹750, +4.2% against the issue price of ₹720, and closed its first day +4.0%.
