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Business News/ Companies / News/  Glenmark seeks shareholder approval to raise 1,800 crore
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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

The pharma company is also looking to raise `1,800 crore by selling shares to institutional investments, it said.Premium
The pharma company is also looking to raise `1,800 crore by selling shares to institutional investments, it said.

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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ABOUT THE AUTHOR
Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
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Published: 28 Nov 2014, 02:23 PM IST
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