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Glenmark Pharmaceuticals to divest 75% stake in Glenmark Life Sciences

22 Sep 2023 Evaluate

Glenmark Pharmaceuticals (Glenmark Pharma) has entered into a definitive agreement with Nirma to divest 75% stake in its subsidiary, Glenmark Life Sciences (GLS), at a price of Rs 615 per share for an aggregate consideration of Rs 5651.50 crore, subject to closing adjustments. Glenmark Pharma will own 7.84% in GLS after the divestment. The transaction is subject to customary conditions precedent, including receipt of regulatory and shareholder approvals. Pursuant to the transaction, Nirma will make a mandatory open offer to all public shareholders of GLS.

Glenmark Pharma will continue to focus on consistent growth across its key markets whilst having a strong emphasis on return ratios with net cash positive balance sheet, ultimately creating value for its shareholders. Kotak Investment Banking acted as the exclusive financial advisor to Glenmark Pharma and GLS on this transaction. S&R Associates acted as legal advisor to Glenmark Pharma and Trilegal acted as legal advisor to GLS.

Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.

Glenmark Pharma Share Price

2364.35 -6.70 (-0.28%)
08-May-2026 16:59 View Price Chart
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