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Glenmark Pharma shareholders approve raising $200 mn via debt securities

The proposal was approved at the company's annual general meeting held on September 27

Glenmark Pharmaceuticals

Press Trust of India New Delhi
Glenmark Pharmaceuticals on Saturday said its shareholders have approved a proposal to raise up to $200 million (about Rs 1,413 crore) through issuance of debt securities.
The proposal was approved at the company's annual general meeting held on September 27.
"All the Resolutions were declared passed with the requisite majority," the company said in a BSE filing.
According to the proposal, the firm plans to raise up to $200 million in Indian and/or international market through bonds, debentures or other debt securities in one or more tranches.
The price at which the debt securities will be issued shall be determined by the board in accordance with applicable laws and consultation with appropriate advisors, it added.

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First Published: Sep 28 2019 | 2:40 PM IST

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