Deal: Divestment of Majority Stake in Glenmark Life Sciences by Glenmark Pharma to Nirma

Trilegal represented Glenmark Life Sciences Limited (“GLS”), a listed pharmaceutical manufacturer of APIs, in the proposed sale of 75% equity shares of GLS by Glenmark Pharmaceuticals Limited to Nirma Limited. The proposed share sale is for an aggregated consideration of INR 56.51 billion, subject to customary closing adjustments. The transaction is subject to a mandatory open offer to be made by Nirma Limited, customary conditions precedent, including but not limited to lender consents, regulatory and shareholder approvals.

The Trilegal team was led by Partner and National Head of Corporate Practice, Yogesh Singh, along with Tejas Adiga (Corporate) and Atul Gupta (Labour and Employment).

Other attorneys who supported the deal include Kosha Thaker, Counsel; Arunima Singal and Rohan Kohli, Senior Associates; Daksha Khanna, Abhijit Bhandarkar, Adit Munshi and Nikita Rajesh, Associates on corporate aspects; and Parvathy Tharamel, Counsel, on employment law matters.

Media Link:

Microsoft Word – Press Release_Glenmark Pharma Announces Proposed Divestment of Majority Stake in GLS (b-cdn.net)

About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.

For more information, please contact:

Sahil Wason
Mob: +91-8928008122 | BD@trilegal.com