Temasek Holdings to invest in Glenmark

The company has decided to raise funds by way of issuance of up to 108,00,000 equity shares

Glenmark Pharmaceuticals has informed the Bombay stock exchange that Temasek Holdings, the investment arm of the Singapore government, is considering investing in the company through its wholly owned subsidiary Aranda Investments,  in equity shared to be issued by the company on a preferential basis. 

The company further said that it has decided to raise funds by way of issuance of upto 108,00,000 equity shares of Rs 1/- each on preferential basis for cash to Aranda, a foreign Portfolio investor, at a price of Rs 875 per equity share aggregating to Rs 945 crore, subject to requisite approvals of the shareholders and any regulatory authorities, as may be required.