Glenmark Pharma (GNP) is divesting 75% stake in its API arm Glenmark Lifesciences (GLS) for INR 56.5bn (INR 615 per share) to Nirma Limited valuing GLS at 11.7x FY25E EPS and 6.4x EV/EBITDA. GNP, though, will still hold nearly 7.8% stake in GlenmarkLifesciences.