Online edition of India's National Newspaper
Thursday, July 12, 2001
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Online edition of India's National Newspaper Thursday, July 12, 2001 |
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AA for Glenmark Pharma
A AA (double A) rating has been assigned to the Rs. 45 crore non-
convertible debenture issue of Glenmark Pharmaceuticals
(Glenmark). Further, the pfAA (pf double A) rating assigned to
the Rs. 40 crore preference share programme has been withdrawn to
the extent of Rs. 30 crores since the company does not propose to
go ahead with the issue.
The rating factors in the company's respectable presence in the
anti-fungal, cough and cold, haematinic and cephalosporins
antibiotic segments of the domestic market. The acquisition of
Lyka brands in 2000-01 further strengthens the company's position
in these segments.
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