Glenmark issues over 1 crore shares to Aranda, raises Rs 945 crore

NEW DELHI: Glenmark Pharmaceuticals has raised Rs 945 crore by issuing over 1 crore shares to Aranda Investments, an indirect subsidiary of Temasek Holdings.

The preferential issue committee of the board of the company which met today, allotted over 1.08 crore equity shares of the face value of Re 1 each at a price of Rs 875 per equity share to Aranda Investments (Mauritius) Pte Ltd, on preferential basis, Glenmark Pharma said in a filing to BSE.

Mauritius-based Aranda Investments is a foreign portfolio investor and a wholly-owned indirect subsidiary of Temasek Holdings (Private) Ltd, the investment arm of the Singapore government.

Glenmark currently employs over 10,400 people in over 80 countries. It has 14 manufacturing facilities in four countries and has 6 R&D centres.

Shares of Glenmark Pharmaceuticals today closed at Rs 899.35 per scrip on BSE, down 0.71 per cent from it's previous close.