Glenmark Pharma will sell 75% of Glenmark Life to Nirma for Rs 5,652 crore.

Glenmark Pharma will sell 75% of Glenmark Life to Nirma for Rs 5,652 crore.

An equity valuation of Rs7,535 crore is implied by Glenmark Pharma’s agreement to sell a 75% stake in its subsidiary Glenmark Life Sciences to Nirma Limited for Rs5,652 crore (615 per share). 7.84% of Glenmark Life Sciences will still be owned by Glenmark Pharma.

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The transaction is subject to standard prerequisites, such as obtaining shareholder and regulatory clearances.

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