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Godrej to invest Rs 360 cr more in FMCG arm

Godrej to invest Rs 360 cr more in FMCG arm

Author | Source: Business Standard | Tuesday, Mar 18,2008 7:55 AM

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Godrej to invest Rs 360 cr more in FMCG arm

FMCG major Godrej Industries today said it has received shareholders approval for further investing up to Rs 360 crore in Godrej Consumer Products.

The shareholders of the company 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.

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 subsidiary – Godrej Netherlands BV and its joint venture Godrej SCA Hygiene.

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