CCI Approves Nirma s Majority Stake Buy in Glenmark Life Sciences thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
In September this year, Glenmark Pharmaceuticals said its board has approved to divest 75 per cent stake in its subsidiary GLS to Nirma Ltd for Rs 5,651.5 crore.
Nirma gets CCI for acquisition of majority stake in Glenmark Life Sciences wn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wn.com Daily Mail and Mail on Sunday newspapers.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition.
The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition.
Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.