Godrej Consumer gets investor nod to raise Rs 300 cr via NCDs

100% shareholders polled in favour of fund raising proposal; firm to raise funds in one or more tranches

FMCG firm Godrej Consumer Product Ltd (GCPL) today said its shareholders have approved a proposal to raise up to Rs 300 crore through issue of nonconvertible debentures (NCDs) on private placement basis.

In a BSE filing, GCPL said 100 per cent shareholders polled in favour of the proposal of raising an amount up to Rs 300 crore from non-convertible debentures in private placement.

The company has said it will raise the fund in one or more tranches during the period of one year commencing from the date of passing of this resolution, July 29, by shareholders.

GCPL's shares were trading at Rs 1,268 apiece, up 2.25 per cent, from its previous close on BSE.