Glenmark Pharma to consider proposals to raise funds; stock down ~1%

The company to evaluate proposals for raising of funds either by issuance of bonds / debentures / non-convertible debt instruments or any other securities.

Feb 12, 2020 04:02 IST India Infoline News Service

Glenmark Pharmaceuticals
Glenmark Pharma informed the exchanges post market hours Tuesday that the Board of Directors of the Company, at its meeting scheduled on February 14, 2020, will, inter-alia, consider and evaluate proposals for raising of funds either by issuance of bonds / debentures / non-convertible debt instruments or any other securities or any combination thereof, of any of the above, for refinancing of bonds/FCCBs/loans, in accordance with the FEMA ECB Guidelines, and other applicable regulations, guidelines and laws of India, and subject to all necessary regulatory, statutory and shareholder approvals, as may be required.

Stock view:
Glenmark Pharmaceuticals Ltd is currently trading at Rs328.60 down by Rs2.6 or 0.79% from its previous closing of Rs331.20 on the BSE.
The scrip opened at Rs333 and has touched a high and low of Rs334.20 and Rs327.40 respectively. So far 3,09,050 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs9,346.25cr.

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