Drug maker Glenmark Pharmaceuticals today said HSBC Global Investment Fund (Mauritius) has hiked its stake to 5.02 per cent in the company, after purchasing fresh equity through the open-market transaction.
In a disclosure to the Bombay Stock Exchange, the pharma firm said that the fund house has purchased 2.18 lakh shares worth Rs 2.77 crore.
Prior to the purchase, HSBC Global held a 4.93 per cent stake, which has now increased to 5.02 per cent that is 1.25 crore shares.
Shares of Glenmark Pharma were trading at Rs 147.70, up 3.21 per cent on the BSE.