The chemical, cement and detergent manufacturer, Nirma Group, is seeking to raise over Rs 7,000 crore for the acquisition of Glenmark Life Sciences and expansion of its existing facilities.
With the acquisition of Glenmark Life Sciences, the Nirma Group, which already offers medical products under the brand Nirlife Healthcare, will further boost its healthcare segment. The Group's diversification plans will include acquisitions in local or international markets.
Besides acquisition, Nirma will also look to expand its existing operations with similar capital expenditures, and may approach the private credit market for the same.
In April 2023, the Group acquired Stericon Pharma, an eye drop and contact lens maker, for around Rs 350 crore.