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Nirma: Nirma to raise Rs 3,500 cr via bonds, pay upto 8.5%

Nirma entered into a deal with listed Glenmark Pharmaceuticals in September 2023 to buy a 75% stake in Glenmark Life Sciences for ₹5,650 crore. Nirma plans to fund the acquisition by the end of the current fiscal year.

Mumbai , Maharashtra , India , Barclays , Glenmark-life-sciences , Glenmark-life , Kotak-investment-advisors , Glenmark-pharmaceuticals , Nirma , Bonds , Finance

Nirma: Nirma hires managers to raise Rs 3,500-crore NCDs to finance Glenmark Life Sciences

Nirma has proposed to raise the debt in the form of rated, listed, non-convertible debentures (NCD) for a term of one, two and three years, the people said. The interest rate on the bonds will range from 9% to 10%.

India , Mumbai , Maharashtra , Glenmark-life-sciences , Exchange-board-of-india , Barclays , Karsanbhai-patel-promoted-nirma , Kotak-investment-advisors , Glenmark-pharmaceuticals , India-ratings , Exchange-board

Ram Mandir Inauguration Holiday: Ram Mandir Inauguration Holiday: Law students challenge Maharashtra's holiday for Ram Temple, cite secular concerns

Ram Mandir Inauguration Holiday: Law students challenge Maharashtra's public holiday for the Ram Temple consecration, arguing it contradicts India's secular principles. In a quick hearing at the Bombay High Court, they emphasize public interest, not political affiliations. The students stress the potential impact on education, finances, and governance. This legal battle reflects a broader nationwide debate on religious events influencing public holidays, with Goa and Madhya Pradesh also declaring holidays for the Ram Temple. The students' stand questions the constitutional commitment to secularism.

Business-news , Breaking-news-events , Latest-news-updates , Economic-times , Economic-times-news-app , Daily-market-updates , Live-business , Economic-times-prime , Ram-mandir-inauguration-holiday , Maharashtra , Law-students

Ram Mandir Inauguration Holiday: Ram Mandir Inauguration Holiday: Bombay HC rejects law students' appeal against Jan 22 holiday for Ram Temple ceremony

Ram Mandir Inauguration Holiday: Law students challenge Maharashtra's public holiday for the Ram Temple consecration, arguing it contradicts India's secular principles. In a quick hearing at the Bombay High Court, they emphasize public interest, not political affiliations. The students stress the potential impact on education, finances, and governance. This legal battle reflects a broader nationwide debate on religious events influencing public holidays, with Goa and Madhya Pradesh also declaring holidays for the Ram Temple. The students' stand questions the constitutional commitment to secularism.

Ayodhya , Uttar-pradesh , India , Bombay , Maharashtra , Mumbai , Justice-ramaswamy , Justice-girish-kulkarni , Khushi-bangla , Shivangi-agarwal , Ram-temple , Ram-janmabhoomi-pran-pratishthan

Nirma gets CCI for acquisition of majority stake in Glenmark Life Sciences

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.

India , Nirma-ltd-for-rs , Glenmark-life-sciences-ltd , Glenmark-life-sciences , Competition-commission-of-india , Nirma-ltd , Glenmark-pharmaceuticals , Ahmedabad-based-nirma , Competition-commission , Glenmark-life-sciences-limited , Life-sciences-ltd

nirma shares: CCI approves Nirma's acquisition of Glenmark Life Sciences

The acquisition will trigger a mandatory open offer to all public shareholders of GLS for an additional 17%.

Ahmedabad , Gujarat , India , Karsanbhai-patel , Glenmark-life-sciences , Competition-commission-of-india , Competition-commission , Nirma-shares , Cci , Nirma , Nirma-news , Nirma-acquisition

View: Eminent rise of M&As

Despite the global challenges of high interest rates and geopolitical uncertainties, the economy remains resilient, buoyed by rising domestic demand and sectoral recovery. The outlook for H2 FY2023 and FY2024 looks positive, suggesting a resurgence in deals as market valuations stabilise. The financial health of the Indian companies is underscored by data from S&P Global Ratings, which projects a remarkable 50% increase in EBITDA by FY2024, while debt levels remain stable. This reflects a positive outlook for the corporate sector, demonstrating the strength of India's economy in the face of global adversity.

United-kingdom , Manipal , Karnataka , India , Canada , Hindustan , India-general- , Singapore , Britain , Thornton-bharat , Biocon-biologics , Adani-group

Glenmark Pharma Q2 Results: Co posts loss on exceptional legal costs

The company posted a consolidated net loss, from continuing operations, of 2.01 billion rupees ($24.14 million) for the three months ended Sept. 30, from a profit of 1.54 billion rupees a year ago

United-states , India , America , Zydus-lifesciences , Glenmark-pharma , Glenmark-life-sciences , Us-department-of-justice , Glenmark-pharmaceuticals , Antitrust-division , North-america , Glenmark-pharma-s , Eileen-soreng

life sciences: Glenmark Life Sciences Q2 Results: Firm posts profit rise on API boost

However, a nearly 18% rise in expenses ate into the company's core profit margin, which contracted to 29% from 30.2% a year earlier.

India , Japan , United-states , Mumbai , Maharashtra , America , Glenmark-pharma , Aurobindo-pharma , Glenmark-life-sciences , Torrent-pharmaceuticals , Life-sciences , Glenmark-pharmaceuticals

Pharmaceutical Business: Detergent maker Nirma forays into APIs with Glenmark deal

India Business News: Ahmedabad-based Nirma is set to acquire Glenmark Life Sciences (GLS), a subsidiary of Glenmark Pharma, for Rs 5,652 crore. This move marks Nirma's ent

India , Mumbai , Maharashtra , Glenmark-pharma , Hiren-patel , Stericon-pharma , Glenmark-life-sciences , Ahmedabad-based-nirma , Business-news , Pharmaceutical-business , Nirma , Glenmark