Cdc To Turn Glenmark Debentures Into Equity

CDC Capital Partners, the UK-based private equity fund, would be converting its Rs 50 crore debentures in Glenmark Pharmaceuticals into equity shares. In the process, CDC would then hold around 14 per cent stake in the Saldanhas-controlled pharma company.

Confirming the development, Glenn Saldanaha, managing director and chief executive officer of Glenn Pharmaceuticals said,