Glenmark Pharmaceuticals has launched an offer on the Singapore Stock Exchange to raise up to $200 million through issue of securities. The Mumbai-based company has decided on a regulatory floor price for conversion of the FCCBs at Rs 861.84. 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.
Glenmark Pharmaceuticals is a pharmaceutical company headquartered in Mumbai, India. It manufactures and markets generic formulation products and active pharmaceutical ingredients, both in the domestic and international markets.
