On July 10, Glenmark Pharma announced that its board approved selling 7.84% of its shares in Glenmark Life Sciences.
The board agreed to sell up to 96,09,571 shares through the stock exchange. Glenmark Pharma shared this news in a filing.
On the same day, Glenmark Life Sciences’ shares closed 1.2% lower at Rs 878 each on NSE, while Glenmark Pharma’s shares closed 1.7% higher at Rs 1,382 each.
Glenmark Life Sciences makes important pharmaceutical ingredients and has a range of 146 molecules for treating diseases like heart problems, nervous system issues, pain, and diabetes. In March, Nirma, an Indian company, bought a 75% stake in Glenmark Life Sciences by acquiring 91.9 million shares, making Nirma the main owner of the company.
Source: Moneycontrol
News Desk
