News: Glenmark Pharma to sale of up to 96,09,571 equity shares of Glenmark Life Sciences Limited (“GLS”) representing 7.84% of the issued and paid‐up equity share capital by way of an offer for sale on 11th July(Non-Retail) and 12th July(Retail) at the floor price of Rs 810 per Equity Share(8% Discount from CMP).
Views: This news is in line with previous news where GLS have entered into a letter agreement with GPL for waiving off restriction to not sell, transfer or otherwise dispose and we believe this OFS will pave the way for higher institutional holding in GLS and increase the free float and can unlock its value in long run.
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