Glenmark Pharmaceuticals may raise up to $300M

Mumbai-based Glenmark Pharmaceuticals Limited, which focuses on research to develop new chemical entities (NCEs) and new biological entities (NBEs), is looking to raise as much as $300 million (over Rs 1,800 crore) through insurance of securities in one or more tranches, as per a stock market disclosure.

The firm did not disclose the purpose of the proposed fundraising.

(Edited by Joby Puthuparampil Johnson)

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