Glenmark Pharmaceuticals Ltd has informed BSE that the meeting of the Operations Committee of the Board of Directors held on June 09, 2008, the Committee has approved conversion of Zero Coupon Foreign Currency Convertible Bonds amounting to US$ 7,500,000 into 1,293,706 Equity Shares at a price of Rs 253.11 per share of face value Rs 1/- each out of US$ 50,000,000 Zero Coupon Foreign Currency Convertible Bonds issued in 2005.