Glenmark Pharma share price NSE, Glenmark Pharma Nirma news: Glenmark Pharmaceuticals shares on Friday dipped as much as 6.3 per cent to touch the day's low of Rs 775 on the NSE in the early morning trade after clocking a 52-week high of Rs 880 on Thursday, September 21. The trend in the Mumbai-based drug maker follows after it announced the divestment of a 75 per cent stake in its subsidiary, 'Glenmark Life Sciences'. An agreement has been signed with Nirma Limited for a share sale. The company will sell 91.89 crore shares at the price of Rs 615 per share. The counter ended at Rs 803.05, down 2.98 per cent on NSE.

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The company's board, at its meeting held on September 21, 2023, considered and approved the sale of 91,895,379 shares, representing 75 per cent share capital of Glenmark Life Sciences Ltd, to Nirma Ltd at a price of Rs 615 per share, aggregating to Rs 5,651.5 crore, Glenmark Pharma said in a regulatory filing. As part of the transaction, Glenmark Life Sciences and Nirma have agreed to certain non-compete and non-solicit arrangements for a specified period, it added.

Here's how the stock has moved in Friday's session: 

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