India's Glenmark Life Sciences files for IPO to raise funds

India's Glenmark Life Sciences files for IPO to raise funds

Glenmark Life Sciences Ltd on Saturday filed a draft red herring prospectus with the Securities and Exchange Board of India to raise funds through initial public offering. The IPO will consist of a fresh issue of 1,160 crore and an offer for sale of up to 7.31 million shares by parent Glenmark Pharmaceuticals Ltd.