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Marico to raise Rs 500 crore

The FMCG major says it has received shareholder approvals for raising the amount through issue of securities.

india Updated: Aug 23, 2006 12:18 IST
Press Trust of India
Press Trust of India

City-based FMCG major Marico Ltd today said it will raise Rs 500 crore through the issue of securities.

The shareholders approved the proposal to raise funds through the issue of securities by way of a postal ballot and gave their nod to an increase in the company's authorised share capital to Rs 215 crore from Rs 60 crore.

A borrowing limit of Rs 500 crore was approved by the shareholders as well, the company informed the Bombay Stock Exchange.

First Published: Aug 23, 2006 12:18 IST