Glenmark To Raise INR12 Billion

Glenmark Pharmaceuticals, a research-driven, global, integrated pharmaceutical, has said that it will raise INR12 billion. The company will raise the amount from overseas markets or by private placement of shares.

The shareholders of the company have given their approval with an option to raise an additional funds. The company plans to raise the funds by Foreign Currency Convertible Bonds, Global Depository Receipts, American Depository Receipts, or by private placement of shares.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical company headquartered at Mumbai, India. The company is listed on India’s two premier stock exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). It employs over 5500 people across its global operations over 85 countries. The company is focussed in the areas of inflammation, metabolic disorders.