Glenmark Pharmaceuticals Limited has informed the Exchange about update on acquisition of securities of O2 Renewable Energy XXIV Private Limited.
GLENMARK · price
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Glenmark Pharmaceuticals has completed its investment in O2 Renewable Energy XXIV Private Limited by paying the remaining Rs. 0.24 Crores. This follows the earlier intimation from December 18, 2024, when the company had initially invested Rs. 1.75 Crores. The total agreed investment was capped at Rs. 1.99 Crores, made through equity and compulsory convertible debentures. After this final tranche, Glenmark holds a 32.95% stake in O2 Renewable Energy XXIV.
This is a minor, routine completion of a previously announced small investment (under Rs. 2 Crores total) in a privately-held renewable energy firm. It is unlikely to have any meaningful impact on Glenmark's stock price or operations, as it represents a very small commitment to a non-core diversification move.