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.
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