Glenmark board approves to sell 7% in Glenmark Life Sciences to Nirma for Rs 5,651.5 crore


NEW DELHI: Glenmark Pharmaceuticals on Thursday stated it’ll sell a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma Ltd for Rs 5,651.5 crore.
The firm’s board at its assembly held on September 21, 2023, thought-about and accepted the sale of 91,895,379 shares representing 75 per cent share capital of Glenmark Life Sciences Ltd to Nirma Ltd at a value of Rs 615 per share, aggregating to Rs 5,651.5 crore, the Mumbai-based drug maker stated in a regulatory submitting.
As a part of the transaction, the corporate, Glenmark Life Sciences and Nirma have agreed to sure non-compete and non-solicit preparations for a specified interval, it added.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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