Glenmark Pharma to opt for ADRs/GDRs
New Delhi: Glenmark Pharma plans to raise funds through either American or Global Depository Receipts (ADRs/GDRs) in order to increase its capital base. The company's shareholders have also approved enhancement of its borrowing limits up to Rs1,000 crore, the company has informed the Bombay Stock Exchange.

The company has already received shareholders' nod for issue of ADRs, GDRs and allotment of bonds, debentures. The shareholders have also approved the issue of warrants or any instruments convertible into equity shares whether optionally or otherwise.
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Granules India raises $8.65 mn through GDR issue
Hyderabad: Granules India Ltd has informed the stock exchanges that following the approval of its shareholders at the extraordinary general meeting held on September 25 last year, to issue up to $15-million global depository receipts (GDRs), the issue accordingly opened on January 13 and closed on January 19.

The company said it has received an amount of $86,50,316 as subscription monies.

Further, the company said its board meeting held on January 20 has issued and allotted 37,61,007 equity shares of Rs10 each in favour of the Depository.
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Suryajyoti Spinning board okays preferential offer
Hyderabad: The board of directors of Suryajyoti Spinning Mills Ltd, the Hyderabad-based yarn producer, at its meeting on Friday has approved a preferential offer to promoters and non-promoters and also considered term loans for the proposed expansion.

The board has approved preferential issue of 14-lakh warrants convertible into 14-lakh equity shares of face value of Rs10 each at a price not exceeding Rs29 on preferential basis to promoters and key management persons.

The board has also decided to forfeit 3,81,925 equity shares.
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