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Temasek Holdings to invest Rs 945 crore in Glenmark Pharma

20 Apr 2015 Evaluate

Temasek Holdings, the investment arm of the Singapore government is all set to invest Rs 945 crore in Glenmark Pharmaceuticals. The move will help ease Glenmark’s debt burden of $420 million.

Temasek Holdings was considering investing in it through its wholly-owned subsidiary Aranda Investments (Mauritius), in equity shares to be issued by the company on a preferential basis.

Last year, Glenmark’s board had approved a proposal to merge Glenmark Pharmaceuticals’ subsidiaries - Glenmark Generics (GGL) and Glenmark Access (GAL) - with the parent company.

Peers
Company Name CMP
Sun Pharma. Inds. 1766.45
Dr. Reddys Labs. 1193.70
Cipla 1310.10
Lupin 1954.15
Zydus Lifesciences 1117.80
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