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Glenmark Pharma Introduces FCCB Issue


Glenmark Pharma Introduces FCCB Issue

The Issuance Committee of the Company at its meeting held on May 31, 2016, has approved raising of up to USD 200 million through issuance of FCCBs to be listed on the Singapore Stock Exchange (Issue) and has decided to open/launch the Issue on May 31, 2016. Further, the Regulatory Floor Price for conversion of the FCCBs shall be Rs. 861.84.

Glenmark Pharmaceuticals Ltd has announced that the Board of Directors of the Company at its meeting held on October 29, 2015 and the shareholders of the Company by way of a special resolution passed by way of Postal Ballot at the deemed Extra-Ordinary General Meeting held on January 25, 2016 approved raising of funds up to USD 500 million through issuance of securities including equity shares or equity linked securities, including through QIPs, convertible bonds, warrants, depository receipts. The outcome of the meeting of the Board of Directors was intimated to the BSE and NSE on October 29, 2015.
In furtherance of the above decisions, the Issuance Committee of the Company at its meeting held on May 31, 2016, has approved raising of up to USD 200 million through issuance of FCCBs to be listed on the Singapore Stock Exchange (Issue) and has decided to open/launch the Issue on May 31, 2016. Further, the Regulatory Floor Price for conversion of the FCCBs shall be Rs. 861.84.
J.P. Morgan Securities Plc is the Sole Global Coordinator and Book Runner for the said Issue.



Source: India Infoline News Service
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