The IPO share allotment for Glenmark Life Sciences, a premier creator and manufacturer of high-value non-commoditized APIs, is likely to be finalized today, August 3.
Here's How to Find Out the Status –
The IPO share allocation can be checked on the BSE's website. Select Equity and Issue Name (Glenmark Life Sciences); enter Application Number and PAN Number; click on the Search button to know the application status.
Alternatively, you can also check the allotment status on the IPO register's website by following a few easy steps. Investors have to first select either PAN, Application Number or DP Client ID; select company name (Glenmark Life Sciences - IPO); enter either PAN Number, Application Number or DP Client ID; click on the Search button to know whether the shares were allotted to you or not.
After the finalization of the basis of the allotment, funds will be refunded or unblocked from the ASBA account on August 4, and equity shares will be credited to demat accounts of allottees on August 5.
The shares of Glenmark Life Sciences will start trading on both BSE and NSE from August 6. The Rs 1513.6 crore public issue of Glenmark Life Sciences received an overwhelming response from investors as it was subscribed 44.17 times during July 27-29. The portion set aside for qualified institutional investors saw a subscription of 36.97 times and that of non-institutional investors 122.54 times. The retail portion was booked 14.63 times.
On Tuesday, the shares of Glenmark Life Sciences were trading at a premium of Rs 150 in the grey market, the IPO Watch and IPO Central data showed. The grey market premium translates to a trading price of Rs 870, up 20.8 percent over the expected final issue price of Rs 720 per share.