Glenmark Life Sciences Limited, a wholly owned subsidiary of Glenmark Pharmaceuticals Limited, has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an Initial Public Offer (IPO). 

The IPO comprises a fresh issue of up to Rs. 11,600 million and an offer for sale of up to 7,305,245 equity shares of Rs. 2 each of Glenmark Life Sciences Limited by Glenmark Pharmaceuticals Limited.

In connection with the IPO offer, the board of directors of Glenmark Pharmaceuticals Limited has accorded its approval for the offer for sale of up to 7,305,245 equity shares of Rs. 2 in the Offer.

The IPO will be subject to market conditions, receipt of applicable approvals and other considerations.