Jyothy Laboratories has received an approval for raising of funds up to Rs 400 crore through issue of Non-Convertible Debentures (NCDs) to replace the existing borrowings. The board of directors at its meeting held on October 22, 2013 has approved for the same.
The board has also approved to acquire 33,00,000 Compulsorily Convertible Cumulative Participatory Preference Shares of Rs 10 each (100% of preference capital) and 50,000 Equity shares of Rs 10 each (0.38% of equity capital) in Jyothy Fabricare Services, subsidiary of the company, presently held by IL&FS Trust Company for TARA India Fund IV Trust. The company presently holds 74.71% in Jyothy Fabricare Services.
Jyothy Laboratories is one of the leading players in the mid and economy segments of the FMCG industry having its presence in Fabricare (Detergents/soaps for clothes), Household Insecticide (Repellent coils/liquid or spray) Dishwashing products/Toilet cleaners, Personal care (Toilet soap) and Others (Incense sticks).
The board has also approved to acquire 33,00,000 Compulsorily Convertible Cumulative Participatory Preference Shares of Rs 10 each (100% of preference capital) and 50,000 Equity shares of Rs 10 each (0.38% of equity capital) in Jyothy Fabricare Services, subsidiary of the company, presently held by IL&FS Trust Company for TARA India Fund IV Trust. The company presently holds 74.71% in Jyothy Fabricare Services.
Jyothy Laboratories is one of the leading players in the mid and economy segments of the FMCG industry having its presence in Fabricare (Detergents/soaps for clothes), Household Insecticide (Repellent coils/liquid or spray) Dishwashing products/Toilet cleaners, Personal care (Toilet soap) and Others (Incense sticks).
No comments:
Post a Comment