In a filing to the BSE, the company said its proposal to issue securities not exceeding USD 300 million was approved by with 96.07 percent votes in favour through postal ballot.
Glenmark Pharmaceuticals has received shareholders' nod to raise up to USD 300 million (around Rs 1,890 crore) through issue of securities.
In a filing to the BSE, the company said its proposal to issue securities not exceeding USD 300 million was approved by with 96.07 percent votes in favour through postal ballot.
Shareholders also approved hiking the shareholding limit for foreign institutional investors FIIs)/RFPIs from 40 percent up to an aggregate limit of 49 percent of the paid up share capital of the company, it added.
Shares of Glenmark Pharmaceuticals today closed at Rs 770.35 per scrip on BSE, down 0.41 percent from their previous close.
Glenmark stock price
On December 30, 2014, Glenmark Pharma closed at Rs 770.35, down Rs 3.2, or 0.41 percent. The 52-week high of the share was Rs 840.10 and the 52-week low was Rs 496.20.
The company's trailing 12-month (TTM) EPS was at Rs 15.87 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 48.54. The latest book value of the company is Rs 107.12 per share. At current value, the price-to-book value of the company is 7.19.
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