Kotak Mahindra Capital Co. Ltd has been hired to run the sale process, and the company has contacted buyout funds to gauge investor interest, the people said.
The company had explored a stake sale in its active pharmaceutical ingredient (API) business in 2019 but then opted for a listing in 2021 after spinning off the entity as Glenmark Life Sciences.
Glenmark Pharmaceuticals and Kotak Mahindra Capital did not respond to queries till press time.
The shares of Glenmark Life Sciences were trading at ₹408.20 apiece, down by over 45% from its listing price of ₹720 per share. The company’s market capitalisation stood at a bit over ₹5,000 crore on Monday on BSE.
"They are asking for the IPO (initial public offering) price," said one of the two people cited above, seeking anonymity.
Denne historien er fra April 11, 2023-utgaven av Mint Mumbai.
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Denne historien er fra April 11, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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