Glenmark Pharma, Temasek Holdings, Singapore, Aranda Investments (Mauritius)

Funds will be raised by way of issue of upto 108,00,000 equity shares of Re 1 each on preferential basis for cash to Aranda, a foreign portfolio investor

Glenmark Pharmaceuticals informed the stock exchanges that Temasek Holdings, the investment arm of the Singapore government, is considering investing in the company through its wholly-owned subsidiary Aranda Investments (Mauritius), (Aranda) in equity shared to be issued by the company on a preferential basis. At the recently held board meeting in Mumbai, Glenmark decided to raise funds by way of issue of upto 108,00,000 equity shares of Re 1 each on preferential basis for cash to Aranda, a foreign portfolio investor at a price of Rs 875 per equity share aggregating to Rs 945 crores, subject to the requisite approvals of the shareholders and any regulatory authorities, as may be required.