India's Glenmark Life up 3% on reports of interest from Nirma group, PE firms

Alivus Life Sciences

24/05/2023 10:17

(Updates with BPEA-EQT's response in paragraph 4)
    ** Shares of Glenmark Life Sciences Ltd  GLEM.NS  rise as
much as 3.21% to 535.75 rupees
    ** Multiple media reports say Ahmedabad-based Nirma group,
global private equity firms KKR, Blackstone and BPEA-EQT are
interested in buying a stake in the API maker, citing sources
    ** Reuters is awaiting response to email queries from GLEM,
Nirma group, KKR, and Blackstone
    **  BPEA-EQT has declined to comment on the media reports
    ** Trading volume is 210,937 shares as of 2:11 p.m. IST,
0.8x the 30-day avg - Refinitiv data
    ** All five analysts tracking GLEM rate it 'buy' or higher;
median PT is 600 rupees

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))