Godrej Inds board OKs raising upto Rs 3,000 cr

Godrej Industries announced that its board has approved raising upto Rs 3,000 crore in one or more tranches by issuing non-convertible debentures (NCDs) through private placement basis.

In an exchange filing, the diversified company said, The board of directors have approved raising of funds by way of issuance of unsecured NCDs / bonds / other instruments, listed and/or unlisted, on private placement basis, in one or more tranches, for an amount not exceeding Rs 3,000 crore during the period of one year from the date of approval by the shareholders.

Godrej Industries, a Godrej Group Company, is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantation and real estate.

The diversified company reported consolidated net loss of Rs 311.81 crore in Q4 FY24 as compared to net profit of Rs 300.08 crore recorded in Q4 FY23. Revenue from operations declined 5.87% year on year (YoY) to Rs 4,567.27 crore during the quarter ended 31 March 2024.

Shares of Godrej Industries added 0.70% to Rs 877.70 on the BSE.

Powered by Capital Market - Live News