
Glenmark receives five procedural observations from USFDA after Monroe facility inspection
By Aditya Bhagchandani Published on June 18, 2025, 09:04 IST
Glenmark Pharmaceuticals on Wednesday announced that the United States Food & Drug Administration (USFDA) has issued a Form 483 with five procedural observations following a recent inspection at its Monroe, North Carolina manufacturing facility.
The inspection, conducted between June 9 and June 17, 2025, focused on Good Manufacturing Practices (GMP). According to Glenmark's regulatory filing, all five observations raised by the USFDA were procedural in nature, and importantly, no data integrity issues were identified.
The company has assured that it will work closely with the USFDA to address the noted observations and respond within the stipulated timeline. Glenmark emphasized its commitment to maintaining quality standards and regulatory compliance across its global operations.
The update was disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Upturn
an hour ago
- Business Upturn
Campus Fund Launches Third Fund of $100 Million
Bengaluru, Karnataka, India: Campus Fund , India's pioneering and only SEBI-registered AIF Category II venture capital fund dedicated exclusively to student – and college dropout-led startups, has announced the launch of its third and largest fund, a $100 million corpus. With more than 50% of the fund already committed, the fund has completed its first close and has already made two early investments. Founded by serial entrepreneur Richa Bajpai, Campus Fund reimagines venture capital by backing first-time founders while they are still in university, have dropped out of college, or are within three years of graduation. After co-founding Goodera (backed by Nexus, Omidyar, Elevation, and Binny Bansal), Richa developed the Campus Fund thesis while studying at London Business School in 2020. What began as a humble experiment has now evolved into a $100 million institutional platform powering India's next generation of builders. 'Campus Fund is not just a VC firm — it's a movement to unlock the genius scattered across campuses,' said Richa. 'With Fund III, we double down on our conviction that student founders aren't just dreamers — they're doers, redefining the future from dorm rooms, garages, and labs.' Richa began her own entrepreneurial journey in 2009, during her final year of engineering. 'This is a full-circle moment for me,' she added. 'I started in a dorm room with nothing but an idea and ambition. To now back students chasing bold ideas — that's the most meaningful chapter of my career.' Today's student founders aren't limited to elite institutions. They're emerging from Tier 2 and Tier 3 colleges, small towns, and unconventional backgrounds. Many are college dropouts who've chosen to build. As knowledge becomes more accessible, Fund III aims to democratize access to capital. 'The next unicorn may not come from Silicon Valley or Bengaluru — it might come from a hostel room in Bhopal or a garage in Surat,' Richa added. Campus Fund operates with a network of 100+ student scouts across universities and evaluates over 7,000 startups annually. Fund III will invest in up to 60 startups over the next four years, writing initial cheques ranging from Rs. 1 crore to Rs. 8 crore, with 50% of the fund earmarked for follow-on investments. Campus Fund has previously backed companies such as Expand My Business (managed marketplace for Digital Services), Digantara (space situational awareness), EtherealX (fully reusable rockets), Sama (online dispute resolution), D-Nome (decentralized genomics infrastructure), Sarla (flying taxis), GreenGrahi (insect protein), among many others. Several of these startups have gone on to raise follow-on capital from marquee global investors, including Peak XV Partners, Accel, a16z, AlphaWave, and DST Global. Fund III is supported by a diverse mix of family offices, successful entrepreneurs, industrialists, and financial institutions — including 360 One — with many Limited Partners re-upping after Fund II. Notable backers include Kanwaljit Singh, Founder of Fireside Ventures; Bharat Shah, Co-founder of HDFC Bank; Jaimin Bhatt, former Group CFO of Kotak Mahindra Bank; Asha Jadeja Motwani, first investor in Google; and Sameen Farooqui, Global Head of FX at Deutsche Bank. With this momentum, Campus Fund cements its position as India's most active early-stage backer of youth-led innovation — and a bold blueprint for venture capital in emerging markets. Backing student and dropout founders is no longer just a visionary bet — it's one of the smartest investments of this decade. The returns are not just financial, but generational.


Business Upturn
20 hours ago
- Business Upturn
Aarvi Encon secures twin manpower contracts worth over Rs 30 crore
By Aditya Bhagchandani Published on June 20, 2025, 16:40 IST Aarvi Encon Limited has announced the receipt of two significant work orders from a leading multinational EPC company, with a combined value exceeding Rs 30.67 crore. As per the company's regulatory filings, the first contract is worth Rs 22.53 crore and entails supplying manpower on an outsourcing basis to various project sites and offices across India. This contract is valid for two years starting June 3, 2025, and will continue until June 4, 2027. In addition to this, Aarvi Encon has secured a second contract valued at Rs 8.13 crore. This one-year agreement, effective from July 1, 2025, involves similar manpower supply services at multiple domestic locations. Both contracts are with the same unnamed domestic entity and fall under non-related party transactions. The company has signed a Non-Disclosure Agreement, and therefore, the client's identity remains confidential. These orders bolster Aarvi Encon's pipeline and reaffirm its positioning in India's engineering staffing and outsourcing segment. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.


Entrepreneur
20 hours ago
- Entrepreneur
Sambhav Steels Among 5 Upcoming IPOs, SEBI Eases ESOP Rules Ahead of Busy Listing Week
The Indian IPO landscape is set to record a busy week, with five new IPOs hitting the market, Sambhv Steel Tubes Limited's initial public offer (IPO) of equity shares will debut on June 25 and SEBI issues ESOP reforms. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Sambhv Steel Tubes Limited's initial public offer (IPO) of equity shares will debut on June 25. According to the company, the total offer size is INR 540 crore, comprising fresh issues of up to INR 440 crore and an offer for sale (OFS) component of up to INR 100 crore, by the promoters selling shares. Bidding for anchor investors is set for June 24. The price band of the IPO is set at INR 77-82 per equity share, with bids to be made for a minimum of 182 equity shares and in multiples of 182 equity shares thereafter. The company said in a release that the net proceeds from the fresh issue of equity shares will be used towards pre-payment or scheduled repayment of a portion of outstanding borrowings, and the remaining amount will go toward corporate expenses. The IPO also consists of the Employee Reservation Portion, with a discount of INR 4 per equity share being offered for eligible employees. (Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers (BRLMs) to the Issue. SEBI issues ESOP reforms Market regulator Securities and Exchange Board of India recently rolled out ESOP reforms, especially relaxed rules that allow unexercised options to be retained post-listing Roma Priya, Founder, Burgeon Law, believes that the SEBI's decision to allow startup founders to hold ESOPs granted up to a year prior to listing represents a pivotal shift in how India views founder incentives in the public markets. For many years, the regulatory structure inadvertently discouraged long-term founder alignment by excluding them from key benefit structures during IPO preparation. This move is not only poised to correct the said imbalance but also sends a strong signal of regulatory maturity and startup sensitivity. "From a strategic lens, this reform strengthens the startup ecosystem's transition from private to public markets by reinforcing founder retention, reducing post-IPO churn, and making listing a more viable aspiration for younger companies. Having worked closely with hundreds of growth-stage founders, I believe this will directly encourage more startups to start preparing for public exits early, with stronger governance, cap table clarity, and structured ESOP planning as part of that journey, " said Priya. Buzzing IPO Week The Indian IPO landscape is set to record a busy week, with five new IPOs hitting the market, with the surge following a steady build-up in investor enthusiasm, reflecting the ongoing appetite for fresh equity offerings. "Market sentiment remains broadly constructive, driven by improving macroeconomic indicators, favorable liquidity conditions, and increasing participation from both institutional and retail investors. The strong performance of recent listings continues to bolster confidence and encourage broader engagement in the primary market," said Bajaj Broking in its weekly IPO lookout. The stockbroking company said that the upcoming IPOs are offering investors a mix of diverse sector opportunities, which is further reinforcing the depth and vibrancy of India's capital markets. Bajaj Broking predicts that the primary market could well surpass expectations for the first half of FY26.