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IFC plans to invest up to $75 mn in Glenmark Pharma

IFC plans to invest up to $75 mn in Glenmark Pharma

IFC plans to invest up to $75 mn in Glenmark Pharma

 

International Finance Corp reportedly said that it is planning to invest up to $75 million, or about Rs.500 crore, in Glenmark Pharmaceuticals Ltd.

Report says that the company is planning to raise funds by selling quasi-equity instruments. 

The company plans to use the money to expand manufacturing capacity, mostly in India, says report.

Glenmark Pharmaceuticals Ltd ended at Rs. 771.4, down by Rs. 10.1 or 1.29% from its previous closing of Rs. 781.5 on the BSE.
 
The scrip opened at Rs. 778 and touched a high and low of Rs. 781 and Rs. 766.55 respectively. A total of 987234(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21766.3 crore.
 
The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 1261.95 on 21-Aug-2015 and a 52 week low of Rs. 671.5 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 784.9 and Rs. 763.05 respectively.
 
The promoters holding in the company stood at 46.48 % while Institutions and Non-Institutions held 41.92 % and 11.6 % respectively.
 
The stock traded below its 200 DMA.

 

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