Nirma’s big deal, will buy 75% stake of Glenmark Life Sciences for Rs. 5,654 crore

New Delhi: Nirma has purchased a major stake in Glenmark Life Sciences, a subsidiary of the country’s leading pharma company Glenmark. Nirma has bought 75 percent stake of Glenmark Life, a company of Glenmark. This information was given by the board of Glenmark. Nirma has signed a deal worth Rs 5654 crore for 75 percent stake in the company. It is believed that this deal will be completed by the end of this year.

Pharmaceutical company Glenmark Pharmaceuticals has acquired 75 stake in its subsidiary Glenmark Life Sciences Nirma Ltd. Will sell to. This deal will be worth Rs 5,651.5 crore. The company gave this information in its information given to the stock market on Thursday. This information has been given by the company. The company has decided to sell 91.89 crore shares of Glenmark Life Sciences to Nirma. In this deal, talks have been made at Rs 615 per share. Let us tell you that the net worth of Glenmark Life Sciences is Rs 2138 crore. It is a material subsidiary of Glenmark Pharma.

Glenmark Pharmaceuticals said that its board of directors, in its meeting held on September 21, 2023, has approved the sale of 9,18,95,379 shares or 75 percent stake of Glenmark Life Sciences to Nirma Ltd. This sale has been done at a price of Rs 615 per share. This makes the total deal worth Rs 5,651.5 crore.