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Glenmark Pharmaceuticals today launched an offer on the Singapore Stock Exchange to raise up to $200 million (over ₹1,340 crore) through issue of securities.
The Mumbai-based company has decided on a regulatory floor price for conversion of the FCCBs at ₹861.84.
The company, however, did not disclose the reason for the fund-raising.
JP Morgan Securities is the sole global coordinator and book-runner for the said issue. Last year, the company’s board and shareholders had approved a plan to raise funds up to $500 million through issuance of securities, including shares or equity-linked assets, convertible bonds, warrants, and depository receipts.
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