Latest News | Glenmark Life Sciences Shares Close with 4 Pc Gain in Debut Trade

New Delhi, Aug 6 (PTI) Shares of Glenmark Life Sciences on Friday closed with a premium of almost 4 per cent against its issue price of Rs 720.

Earlier in the day, the stock was listed at Rs 751.10, a gain of 4.31 per cent from the issue price on the BSE. As trade progressed, it jumped 11.10 per cent to Rs 799.95 during the day. It closed at Rs 748.20, a gain of 3.91 per cent.

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On the NSE, it made its debut at Rs 750, reflecting a jump of 4.16 per cent. It closed at Rs 746, a gain of 3.61 per cent.

In traded volume terms, 12.75 lakh shares were traded at the BSE and over 2 crore units at the NSE during the day.

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The company's market valuation was at Rs 9,167.48 crore on the BSE.

The initial public offer of Glenmark Life Sciences was subscribed 44.17 times last month. Its price range was at Rs Rs 695-720 per share.

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.

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