Glenmark Pharmaceuticals has received shareholders' approval to raise up to $200 million (about Rs 1,413 crore) through issuance of debt securities. The proposal was approved at the company's annual general meeting held on September 27, 2019.
According to the proposal, the company planning to raise up to $200 million in Indian and/or international market through bonds, debentures or other debt securities in one or more tranches.
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).
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