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Issue Open Date
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NA
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Issue Closing Date
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NA
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Application Money
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Allotment Money
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Price Band
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-
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Minimium Application No.
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Issue Size (Shares)
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Market Lot
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1
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Objective
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The Net Proceeds of the Issue are proposed to be utilised by the Company for the following objects:(a) Funding equity investment in the Company’s wholly owned subsidiary, Glenmark GenericsFinance S.A., Switzerland (“GGFSA”) for part payment of the loan arising out of Share PurchaseAgreement dated June 2, 2008; and(b) General corporate purposes.
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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Qualified Institutional Buyers
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Retail Individual Investors
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Business Description:
The Company is a generic pharmaceutical company with research and development, manufacturing,marketing and distribution capabilities. It focuses on the development, manufacturing, marketing anddistribution of generic finished dosage forms ("FDFs") through wholesalers, distributors, retailers and otherchannels, including hospitals and through open tenders. The Company also develops, manufactures, marketsand distributes active pharmaceutical ingredients ("APIs") to other pharmaceutical companies. For certainof its products, the Company manufactures the APIs used in its FDFs. The Company has five manufacturingfacilities in India, two of which have been inspected by the US Food and Drug Administration ("US FDA")and the Medicines and Healthcare products Regulatory Agency ("UK MHRA"), and a new facility inArgentina.The Company markets its products in various regulated and semi-regulated markets around the world. Itprimarily sells its FDF products in the United States ("US") and the European Union ("EU"), as well as itsoncology FDF products in South America. The Company supplies APIs to customers in approximately 65countries, including the US, various countries in the EU, South America and India.As of September 18, 2009, the Company is authorised to distribute approximately 49 FDF products in theUS, markets approximately 66 APIs globally and has approximately 41 Drug Master Files ("DMFs") filedwith the US FDA. The Company's main FDF products are Oxcarbazepine (anticonvulsant), Gabapentin(anticonvulsant), Hydroxyzine (sedating antihistamine), Naproxen (non-steroidal anti-inflammatory or"NSAID") and Pravastatin Sodium (antilipemic), while its main API products are Topiramate, Amiodarone,Telmistartan, Esomeprazole Magnesium, Lornoxicam, Linezolid and Perindopril Erbumine. To assist in itsmanufacturing and marketing efforts internationally, the Company has three operating subsidiaries locatedin each of the US, the UK and Argentina.As part of its business strategy, the Company files Abbreviated New Drug Applications ("ANDAs") withthe US FDA, some of which include Paragraph IV certifications which may result in marketing exclusivityopportunities under US law. In Fiscal 2008, Glenmark Generics Inc., USA obtained 180 days jointexclusivity for Oxcarbazepine (Trileptal). As of September 18, 2009, the Company is involved in ongoinglitigations for securing exclusivity opportunities with respect to six of its ANDA filings. For more detailswith respect to the ANDA filing process and marketing exclusivity, see "IndustryOverview?Pharmaceuticals Industry - US Regulation of Generics Products? Hatch-Waxman Act andParagraph IV" beginning on page 54 of this Draft Red Herring Prospectus. Moreover, the Company'sANDA pipeline of FDF products focuses on niche generics segments such as dermatology/semi-solids,hormones, modified release, controlled substances/CII and "first to file"/Paragraph IV products, which theCompany believes are subject to lesser competition due to the relative complexities involved in theirproduction and higher entry barriers.The Company's consolidated sales in Fiscal 2009 was Rs. 10,326.06 million. In Fiscal 2009, sales fromFDFs contributed Rs. 7,885.15 million, or 76.36% of the Company's consolidated sales, and sales fromAPIs contributed Rs. 2,440.91 million, or 23.64% of its consolidated sales. Sales from FDFs in the US, theprimary regulated market in which the Company conducts business and the largest pharmaceutical market inthe world (Source: Cygnus Research), amounted to Rs. 7,337.73 million, or 71.06% of the Company'sconsolidated sales in Fiscal 2009. Sales from India amounted to Rs. 1,326.61 million, or 12.85 % of theCompany's consolidated sales.The Company is a subsidiary of Glenmark Pharmaceuticals Limited ("GPL"), a company which beganoperations in the pharmaceutical industry in 1977. In 2008, pursuant to a business reorganization, GPL'sgeneric pharmaceutical FDF and API businesses, including all related land, machinery, equipment andemployees, were transferred to the Company.
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Promoter's Holding
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Total Share Capital
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Offered to Public
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Promoter's Holding (Pre-Issue)
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Promoter's Holding (Post-Issue)
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Address |
B/2
Mahalaxmi Chambers
22
Bhulabhai Desai Road
Mumbai
,
Maharashtra
,
400026
Phone :
02240189999
Email :
complianceofficer@glenmarkpharma.com
Website :
www.glenmark-generics.com
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Registrar |
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Listed at |
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Lead Manager |
Enam Securities Pvt Ltd
Kotak Mahindra Capital Co Ltd
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Promoters |
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Glenmark Pharmaceuticals Ltd.
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