Shares of Glenmark Life Sciences on Friday listed with a premium of over 4 per cent against its issue price of Rs 720.
The stock listed at Rs 751.10, a gain of 4.31 per cent from the issue price on BSE. As trade progressed, it jumped 11.10 per cent to Rs 799.95.
On NSE, it made its debut at Rs 750, reflecting a jump of 4.16 per cent.
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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