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The Godrej Consumer board has approved a proposal to raise Rs3,000 crore through issue of securities for various corporate purposes.
Fast-moving consumer goods (FMCG) company Godrej Consumer Products Ltd (GCPL) on Wednesday said its board has approved a proposal to raise Rs3,000 crore through issue of securities.
The board of directors, at its meeting held on 15th December, approved raising of up to Rs3,000 crore to augment long-term financial resources of the company through suitable instruments including shares, bonds and debentures, Godrej Consumer Products said in a filing to the Bombay Stock Exchange (BSE).
The proposal is subject to shareholders’ approval.
GCPL shares closed 1% or Rs2.70 down at Rs263.10 on the BSE while the 30-share Sensex closed 35 points higher at 16,912.