Glenmark seeks shareholder approval to raise ₹1,800 crore
The firm said it is looking to raise shareholding limit for FIIs from 40% to 49% of its paid-up equity share capital
Mumbai: Glenmark Pharmaceuticals Ltd will be seeking its shareholders approval to raise funds and increase the investment limint of foreign institutional investors (FIIs) in the company, the firm said in BSE filing on Friday.
The pharma company is also looking to raise ₹ 1,800 crore by selling shares to institutional investments, it said.
The firm said it is looking to raise shareholding limit for FIIs from 40% to 49% of its paid-up equity share capital.
At 1:10pm, shares of the company were trading at ₹ 822.20, up by 1.45%, on BSE, while the benchmark Sensex was trading at 28,781.41 points, up 1.20%.
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