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Economic Times

Glenmark Pharmaceuticals shares rally up to 20%, mutual funds lead the charge over retail investors

The shares of Glenmark Pharmaceuticals surged 20% on Friday, July 11, to a day's high of Rs 2,286 following a landmark $2 billion licensing deal with U.S. pharma giant AbbVie for its cancer drug, ISB 2001. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mutual funds holding Tired of too many ads? Remove Ads FII's holding The shares of Glenmark Pharmaceuticals surged 20% on Friday, July 11, to a day's high of Rs 2,286 following a landmark $2 billion licensing deal with U.S. pharma giant AbbVie for its cancer drug, ISB the announcement caught the attention of retail investors, the real winners were India's top mutual funds . pradeeAccording to the data on BSE, mutual fund holdings in Glenmark Pharma rose from 9.11% in June 2023 to 14.60% by March 2025 (the last available data).Also Read | Investors' pour Rs 47,000 crore in midcap & smallcap mutual funds in H1 CY25. What are they really chasing? Promoters hold around 46% and FIIs hold around 23.16% as on March 2025, according to the last available data on BSE. Public shareholding data shows that the retail investors' holding has declined from 9.99% in June 2023 to 7.69% in March 2025 (individual shareholders holding nominal share capital up to Rs 2 lakh)According to the last available data, Prashant Jain's 3P India Equity Fund held nearly 1.02% in Glenmark, while Ashish Dhawan held 1.77% in this funds had around 4.16 crore shares of Glenmark Pharmaceuticals in May worth Rs 6,072 crore. Around 27 mutual fund houses had this stock in their portfolio as on May 31, of 27 AMCs, HDFC Mutual Fund and Mirae Asset Mutual Fund had the highest number of shares in their respective portfolios. HDFC Mutual Fund had around 1.27 crore shares of Glenmark Pharmaceuticals worth Rs 1,863 crore in May followed by Mirae Asset Mutual Fund which had 1.01 crore shares of this stock worth Rs 1,473 13 funds from HDFC Mutual Fund had this stock in their portfolio, of which HDFC Mid Cap Fund had the highest number of shares of around 87.78 lakh worth Rs 1,279 crore, followed by HDFC Manufacturing Fund which had 12 lakh shares of this stock worth Rs 174 17 funds from Mirae Asset Mutual Fund had exposure in this stock with Mirae Asset Large & Midcap Fund having the highest number of shares of 33.13 lakh worth Rs 482 crore. Mirae Asset Nifty Total Market Index Fund had the lowest number of shares of 319 in its Read | How much money did ICICI Prudential's star fund manager Sankaran Naren make in FY25? Kotak Mutual Fund had 19.66 lakh shares of Glenmark Pharmaceuticals in its portfolio worth Rs 286 crore. Eight funds from the fund house had this stock in their portfolio and Kotak Arbitrage Fund had the highest number of shares of 13.48 lakh. SBI Mutual Fund , the largest mutual fund house based on assets managed, had 4.98 lakh shares of this stock worth Rs 72 crore, followed by Motilal Oswal Mutual Fund which had 2.49 lakh shares worth Rs 36.29 Mutual Fund had 3,575 shares in its portfolio worth Rs 0.52 crore. Angel One Mutual Fund and Unifi Mutual Fund which are new entrants in the mutual fund industry had around 453 and 325 shares of this stock in their respective to the last available data, FII's holding showed a mixed trend. Smallcap World Fund, INC had 3.21% holding in this stock compared to 4.52% in June 2023. Government Pension Fund Global had 3.25% holding in March 2025 compared to 2.26% in June 2023. Ellipsis Partners LLC had 1.11% exposure in this stock compared to 1.68% in June Pharmaceuticals step-down wholly owned subsidiary, Ichnos Glenmark Innovation (IGI), signed an exclusive global licensing agreement with US-based AbbVie for its experimental cancer drug, ISB 2001, currently in Phase 1 clinical trials for relapsed or refractory multiple myeloma, will be jointly developed under the deal. AbbVie will hold exclusive rights to develop, manufacture, and commercialise the drug in North America, Europe, Japan, and China. Meanwhile, Glenmark will retain rights for Emerging Markets, including Asia (excluding Japan and China), Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South the agreement, IGI Therapeutics SA—a subsidiary of Ichnos Glenmark Innovation—will receive a $700 million upfront payment and is eligible for up to $1.225 billion in milestone payments, along with tiered, double-digit royalties on net sales.