Glenmark Pharmaceuticals is currently trading at Rs 895.20, up by 30.75 points or 3.56% from its previous closing of Rs 864.45 on the BSE.
The scrip opened at Rs 900.00 and has touched a high and low of Rs 909.70 and Rs 882.00 respectively. So far 91184 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs 940.00 on 15-Apr-2015 and a 52 week low of Rs. 510.00 on 19-May-2014.
Last one week high and low of the scrip stood at Rs. 940.00 and Rs. 853.00 respectively. The current market cap of the company is Rs. 24208.97 crore.
The promoters holding in the company stood at 48.30% while Institutions and Non-Institutions held 40.84% and 10.85% respectively.
Glenmark Pharmaceuticals is set to receive an infusion of Rs 945 crore from Temasek Holdings (Private), the investment arm of the Singapore government. The move will help ease company’s debt burden of $420 million (over Rs 2,500 crore).
Besides, the company has said 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.
The company would raise funds by issuing up to 108,00,000 equity shares of Re 1 on a preferential basis for cash to Aranda, a foreign portfolio investor, at Rs 875 per share.
Glenmark’s current portfolio consists of 97 products authorized for distribution in the US marketplace and 68 ANDA’s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.
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