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.