NEW DELHI: Glenmark Pharmaceuticals on Saturday said its wholly-owned arm Glenmark Life Sciences has filed preliminary papers for an initial public offer with market regulator Sebi.
Glenmark Life Sciences has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offer, according to a regulatory filing.
The offer comprises fresh issue of 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 Ltd, by
, the filing said.
The board of directors of Glenmark Pharmaceuticals Ltd during its meeting on April 16 approved the offer for sale of up to 73,05,245 equity shares of Rs 2 apiece as part of the IPO.
The IPO will be subject to market conditions, receipt of applicable approvals and other considerations, the filing said.
