The Board of Glenmark Pharmaceuticals, a Rs.5,975 crore plus pharma entity, has agreed to raise funds by way of issue of upto 1.08 crore equity share of Rs.1 each on preferential basis at a price of Rs.875 per equity share aggregating to Rs.945 crore to Aranda Investments (Mauritius) Pte Ltd (Aranda), a wholly owned subsidiary of Temasek Holdings (Pvt) Ltd, the investment arm of the Singapore government.

To get shareholders approvals, Glenmark has has convened an Extraordinary General Meeting of the company on May 13, 2015 at Mumbai. Aranda is located in Mauritius. Currently Gelenmark scrip is moving around Rs.920 on BSE.