Glenmark Pharmaceuticals is currently trading at Rs. 559.00, up by 18.15 points or 3.36% from its previous closing of Rs. 540.85 on the BSE.
The scrip opened at Rs. 547.00 and has touched a high and low of Rs. 564.00 and Rs. 542.80 respectively. So far 86,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 612.00 on 12-Jul-2013 and a 52 week low of Rs. 458.00 on 28-Mar-2013.
Last one week high and low of the scrip stood at Rs. 562.75 and Rs. 506.05 respectively. The current market cap of the company is Rs. 15,156 crore.
The promoters holding in the company stood at 48.30% while Institutions and Non-Institutions held 40.64% and 11.06% respectively.
Glenmark Pharmaceuticals (GPL) has received its board approval to merge its subsidiaries i.e. Glenmark Generics (GGL) and Glenmark Access (GAL) with GPL. The merger will be effected through a court approved Scheme of Amalgamation under Sections 391 to 394 and other applicable provisions of the Companies Act, 1956 (Scheme). As on date 99.33% of the share capital of GGL is being held by GPL (including 1.19% being held by GAL, a wholly owned subsidiary of GPL).
As per the scheme, the remaining shareholders holding 0.67% (10,16,741 equity shares) of the share capital of GGL will be issued shares of GPL at a swap ratio which has been determined as 4 shares of GPL of Re 1 each for every 5 shares of Rs 10 each held by the shareholders of GGL.
Glenmark’s current portfolio consists of 90 products authorized for distribution in the US marketplace and 53 ANDA’s pending approval with the USFDA. In addition to these internal Filings, GGI continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio.
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