Should I Subscribe For Glenmark Life Sciences Ipo?

Discussion in 'Forex - Currencies Forums' started by Invest19, Jul 26, 2021.

  1. Invest19

    Invest19 New Member

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    Glenmark Life Sciences is a wholly-owned subsidiary of Glenmark Pharmaceuticals Ltd. after it acquired 100% equity interest on July 10, 2018. The API firm of Glenmark is a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients (“APIs”) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management and diabetes. The API portfolio comprises specialized and profitable products, including niche and technically complex molecules.

    Global formulation market was estimated to be around US$1,144 billion in 2020 and is expected to grow at a CAGR (2021–2026) of 3.4% to reach to about US$1,398 billion by 2026. In the global market, innovator formulations sales was around US$861.3 billion in 2020 and it is expected to grow at a CAGR of 3.5% from 2021 to 2026.

    Financially, the company has delivered a growth in revenues by 45.8% in last two years. EBITDA margins of the company stood at 31.38%. After the IPO, the company will become debt-free as it will pay-off their business purchase consideration from Glenmark pharmaceuticals. Return on Equity of the company is highest among the listed peers such as Divis Laboratories, Lauras Labs, Shilpa Medicare, Aarti Drugs and Solara Active Pharma Sciences. Issue price is demanding a P/E multiple of 22.07x, much lower than the Industry P/E of 39.88x.
     
  2. Lisa Maria

    Lisa Maria Senior Investor

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