Temasek Holdings to buy 3.83 % in Glenmark Pharma
Temasek Holdings (Pvt) Ltd, Singapore’s state-owned investment company, will buy a 3.83 per cent stake in Glenmark Pharma for Rs 945 crore in one of the largest private equity deals in a listed Indian pharma company this year. Temasek will purchase more than 1 crore shares through a preferential allotment at Rs 875 per equity share, Glenmark said in a statement. The shares will be bought by Aranda Investments, an indirect subsidiary of Temasek. “We are pleased that one of the world’s most reputed financial institutions, Temasek Holdings, is considering investment in the company. Glenmark will continue to invest significantly in building a strong product pipeline across geographies,” said Glenn Saldanha, managing director of Glenmark Pharma.