Glenmark Pharmaceuticals has received an approval for raising of funds up to $200 million by issue of non-convertible debentures (in form of bonds or otherwise) or bonds, whether denominated in Indian Rupee and/or foreign currency(ies), though a public issue or a private placement in accordance with the provisions of the applicable law. Proceeds from these debt securities issuance will be used mainly to refinance existing debt. The Board of Directors of the company at its meeting held on May 29, 2019, approved the same.
Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).
