Glenmark Life Sciences Limited announced plans to change its name to Alivus Life Sciences Limited, following its acquisition by Nirma Limited. The company’s Board of Directors approved the name change on October 8, 2024, through a circular resolution.
The shares of Glenmark Life Sciences Limited were trading at ₹1,208.80 up by ₹5.55 or 0.46 per cent on the NSE today at 12.55 pm.
The rebranding, which includes alterations to the company’s Memorandum of Association and Articles of Association, is subject to shareholder approval via postal ballot and necessary regulatory clearances. Glenmark Life Sciences will send a postal ballot notice to all shareholders.
The name change comes as a direct result of Nirma Limited’s recent acquisition of the company. Glenmark Life Sciences, headquartered in Mumbai, is a pharmaceutical firm specializing in active pharmaceutical ingredients.