World Bank arm to invest $75 mn in Glenmark
International Finance Corporation, the private-sector lending arm of the World Bank, said it plans to invest up to $75 million (₹500 crore) in Mumbai-based Glenmark Pharmaceuticals. The funds will be used by Glenmark to reduce debt, expand operations, and invest in R&D, it added. Earlier, the company's board had approved a plan to raise up to $500 million (₹3,300 crore).