Glenmark Life Sciences IPO subscribed 44.17 times

The initial public offering of Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, was subscribed 44.17 times, getting bids for 66.32 crore equity shares against the IPO size of 1.5 crore shares. Retail investors have put in bids 14.63 times their reserved portion and that of non-institutional investors 122.54 times. The portion set aside for qualified institutional investors was subscribed 36.97 times. The developer and manufacturer of active pharmaceutical ingredients (APIs) is planning to raise INR 1,513.6 crore through the IPO which comprises a fresh issue for INR 1,060 crore and an offer for sale of 63 lakh equity shares by Glenmark Pharma.