Shares of Glenmark Life Sciences on Friday made a lacklustre debut with its shares getting listed at ₹751.20, a 4 per cent premium over the issue price of ₹720 a share on the bourses.
The stock opened at ₹750 on the National Stock Exchange and at ₹751.20 on the BSE. However, after hitting a high of ₹799.95, the stock closed at ₹748.20 on the BSE, up 3.92 per cent. On the NSE, it closed at ₹746, recording a gain of 3.61 per cent.
Around 12.75 lakh shares on the BSE and over 2 crore shares on the NSE were traded during the day. The IPO was subscribed 44.17 times.
Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, is a leading developer and manufacturer of select high-value, non-commoditised active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management, and diabetes.
The company also manufactures and sells APIs for gastro-intestinal disorders, anti-infectives, and other therapeutic areas
The stock of Glenmark closed 0.38 per cent lower at ₹596.65 on the BSE.
Published on August 6, 2021
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.