Marico to raise Rs 500 crore

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

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

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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.