Press Trust of India / Mumbai Sep 18, 2009, 14:53 IST
Pharma firm, Glenmark Pharmaceuticals today said it will raise about Rs 1,200 crore from overseas markets or by private placement of shares.
The shareholders of the company have approved to raise $250 million with an option to raise an additional funds if the issue is oversubscribed, Glenmark Pharmaceuticals said in a filing to the Bombay Stock Exchange(BSE).
The company would raise the amount by Global Depository Receipts, American Depository Receipts and Foreign Currency Convertible Bonds or by private placement of shares or by qualified institutional investors, the filing added.
Shares of Glenmark Pharmaceuticals were trading at Rs 222.05 on the BSE, up 2.16 per cent from previous close.
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