Glenmark to raise $200 million
Apollo Hospitals Enterprise to raise Rs 500 crore
- Published 29.09.19, 12:09 AM
- Updated 29.09.19, 12:09 AM
- a min read
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 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 markets 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 in consultation with appropriate advisers.
Apollo Hospitals Enterprise on Saturday said it has received shareholders’ nod to raise up to Rs 500 crore through issuance of non-convertible debentures on private placement basis. The proposal was approved by the requisite majority in the AGM held on September 27.