Glenmark board to consider fund raising options on Feb 14

Glenmark Pharmaceuticals on Tuesday said its board will meet later this week to consider various fund raising options. The company's board at its meeting scheduled on February 14 will consider and evaluate proposals for raising of funds, Glenmark Pharmaceuticals said in a regulatory filing.

The Mumbai-based firm plans to raise funds either through issuance of bonds or debentures, non-convertible debt instruments or any other securities or any combination thereof, of any of the above, it added. The company, however, did not share details about how it plans to utilise the funds.

Shares of Glenmark on Tuesday ended 2.87 per cent higher at Rs 331.20 apiece on the BSE.