Mumbai, Sep 15 - Glenmark Pharmaceuticals Tuesday said it has raised Rs.413.5 crore through the issue of over 1.87 crore shares to institutional buyers on private placement basis.

The company opened qualified institutional placement (QIP) issue Sep 10 and closed Monday, it said in a regulatory statement. 'The outstanding paid-up capital of the Company pursuant to the issue shall be Rs.26.95 crore.'

The company also proposes to issue 18,712,935 equity shares to raise Rs.413.55 crore, it added.

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Punjab firm ties up with US publication

Ludhiana: A leading Punjab-based towel manufacturer has entered into a tie-up with a lifestyle publication in the US for its bath products comprising towels, mats and robes.

Abhishek Industries Ltd (AIL), flagship company of the Ludhiana-headquartered Trident group, has procured direct license of Time Inc lifestyle publication, Southern Living.

The agreement gives AIL the brand rights of the lifestyle magazine for three years to promote its bath products comprising towels, mats and robes. The agreement was launched in the New York fashion market Monday, a company spokesperson said here.

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Wipro bags contract from All Nippon Airways

Bangalore: IT major Wipro has bagged a three-year outsourcing contract from Japan's All Nippon Airways (ANA) for transforming ANA's Material Management system.

According to the contract, Wipro will give material management system to ANA.

The system will strengthen regulatory compliance, predict parts demand better and help manage inventory levels, Wipro said.