Companies

Glenmark issues over 1 cr shares to Aranda, raises Rs 945 cr

PTI New Delhi | Updated on January 23, 2018 Published on May 19, 2015

pharma

Glenmark Pharmaceuticals has raised Rs 945 crore by issuing over 1 crore shares to Aranda Investments, an indirect subsidiary of Temasek Holdings.

The preferential issue committee of the board of the company which met today, allotted over 1.08 crore equity shares of the face value of Re 1 each at a price of Rs 875 per equity share to Aranda Investments (Mauritius) Pte Ltd, on preferential basis, Glenmark Pharma said in a filing to BSE.

Mauritius-based Aranda Investments is a foreign portfolio investor and a wholly-owned indirect subsidiary of Temasek Holdings (Private) Ltd, the investment arm of the Singapore government.

Glenmark currently employs over 10,400 people in over 80 countries. It has 14 manufacturing facilities in four countries and has 6 R&D centres.

Besides, the Reserve Bank today permitted foreign institutional investors (FIIs) to buy up to 49 per cent stake in the homegrown drug major. The earlier limit was 40 per cent.

FIIs “through primary market and stock exchanges, can now purchase up to 49 per cent of the paid up capital of Glenmark Pharmaceuticals Ltd under the Portfolio Investment Scheme (PIS),” the central bank said.

Shares of Glenmark Pharmaceuticals today closed at Rs 899.35 per scrip on BSE, down 0.71 per cent from it’s previous close.

Published on May 19, 2015

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.