Healthcare,Healthcare and Medicine sector projects by Glenmark Pharmaceuticals Limited in Multi Location
Project Information
7190
Glenmark Pharmaceuticals Limited
Pharma major Glenmark is planning to raise around $200 million, of which International Finance Corporation (IFC) is planning to invest upto $75 million. The company plans to raise the money through market issuance of quasi-equity instruments.
IFC said that the proposed investment of upto $75 million to be used for expanding manufacturing capacity (primarily in India); building R&D capacity for new products (including in India); and reduce debt so that internal accruals can be deployed to R&D.
The company is looking for IFC to be a long term partner, when it is developing new products that will take several years to be commercially launched. IFC is a patient investor who can reduce funding uncertainty in the long term, and avoid frequent trading which can cause volatility in stock price. Having IFC as an anchor investor in this round of fund-raise will also help attract other investors, which is important during a time of volatile markets.
The proposed fund raising of $200 million is to support company's expansion of domestic manufacturing of the company and for a "significant" amount in capital expenditure over the next three years across its facilities in India.
Project Value
INR 20 Crore /-
Planning
Multi Location
Multi State
India
Healthcare,Healthcare and Medicine
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