Godrej to invest Rs 360 cr in group firm

Agencies
Posted online: Monday , March 17, 2008 at 1326 hrs IST

Font Size

Feedback

Discuss

Save & Share Article

What’s this?

Digg	My Yahoo	Fark
del.icio.us	Newsvine	Reddit

Rate This Article

Mumbai, March 17: FMCG major Godrej Industries on Monday said it has received shareholders approval for further investing up to Rs 360 crore in Godrej Consumer Products Ltd. The shareholders of the company, by way of postal ballot, have passed the special resolution relating to further investment up to Rs 360 crore in Godrej Consumer Products through securities, debentures or guarantees for availing loans, Godrej Industries said in a filing to the Bombay Stock Exchange.

Earlier, on December 4, 2007, Godrej Industries had said it would invest up to Rs 100 crore in Godrej Consumer Products Ltd.

Godrej Consumer Products is also raising Rs 400 crore on a rights basis. The proceeds of the rights issue would be utilised for funding capital expenditure, payment of certain debts, Investing in our subsidiary, Godrej Netherlands BV and its Joint Venture Godrej SCA Hygiene Ltd. Shares of Godrej Industries were trading at Rs 264.50, down 5.27 per cent while scrip of Godrej Consumer Products were quoted at Rs 134.55, up 0.30 per cent on BSE in afternoon trade.

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views represented here are not neccesarily endorsed by www.financialexpress.com and its allied websites. All messages will be moderated and no message that has inflammatory, abusive, derogatory language or any language deemed unfit for publication by the editor will be displayed. Though it will be endeavoured that as many messages as possible be displayed, there will be time lag between the submission and publication of the messages. The website reserves the right to publish or reject any message.

I agree to the terms of use.

Latest News

Print Edition

Events

Godrej to invest Rs 360 cr in group firm

Post Comments