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May 13
Drugmaker Glenmark is holding an Extraordinary General Meetingon May 13 for shareholder approval to raise ₹945 crore through preferential allotment of shares. Recently, Glenmark had said that Temasek Holdings was considering investing in it in equity shares to be issued by the company on a preferential basis. The move is expected to ease Glenmark’s debt-burden of $420 million (over ₹2,500 crore).
Early last month, it said the Bombay High Court had approved the merger of Glenmark Generics Limited and Glenmark Access Limited into Glenmark Pharmaceuticals. On filing completion with Registrar of Companies, Glenmark Generics and Glenmark Access would be dissolved without being wound up, it said.
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