The initial public offer of Glenmark Life Sciences was subscribed 44.17 times on the closing day of subscription on Thursday.
The Rs 1,513.6-crore IPO received bids for 66,33,24,160 shares against 1,50,18,279 shares on offer, according to NSE data.
Qualified Institutional Buyers(QIBs) portion received 36.97 times subscription, non-institutional investors a whopping 122.54 times and retail individual investors (RIIs) 14.63 times.
The initial public offer comprised a fresh issue of up to Rs 1,060 crore and an offer for sale of up to 63 lakh equity shares.
Its price range was at Rs Rs 695-720 per share.
Glenmark Life Sciences on Monday raised Rs 454 crore from anchor investors.
Proceeds from the fresh issue will be used towards the payment of outstanding purchase consideration to the promoter for the spin-off of the API business and funding the capital expenditure requirements.
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.
Goldman Sachs (India) Securities Private Limited, SBI Capital Markets, Kotak Mahindra Capital Company, BofA Securities India Ltd, DAM Capital Advisors Ltd, and BoB Capital Markets were the lead managers to the issue.
The equity shares of the company will be listed on BSE and NSE.