Glenmark Pharma will sell 75% stake in Glenmark Life Sciences to Nirma for Rs 5,652 crore

Mumbai-based Glenmark Pharmaceuticals has entered into a definitive agreement with Nirma to sell a 75% stake in Glenmark Life Sciences, for Rs 5,652 crore.

Post transaction, Glenmark Pharma will own 7.84% of Glenmark Life Sciences.

Pursuant to the transaction, Nirma Limited will make a mandatory open offer to all public shareholders of Glenmark Life Sciences.