Post allotment the paid up equity share capital of Jyothy Laboratories has increased to Rs. 18.10 crore from Rs. 16.60 crore.
Home grown FMCG company, Jyothy Laboratories (JLL) has raised Rs. 263 crore via preferential allotment of shares to Sahayadri Agencies limited, a promoter group company. JLL has allotted 1.5 crore equity shares of Re 1/- each at a price of Rs. 175.15 per equity share.
Post allotment the paid up equity share capital of Jyothy Laboratories has increased to Rs. 18.10 crore from Rs. 16.60 crore. With this the promoter holding has gone up from 63.69% to 66.7%
Commenting on the occasion, Mr. Ullas Kamath, Joint Managing Director, Jyothy Laboratories said:
“Post successful integration with Henkel India it was the right time to invest in existing brands and also expand JLL’s portfolio. The preferential allotment of shares along with NCDs to a clutch of investors will help JLL to save the yearly interest burden of about Rs. 60 crore leaving a cash balance of about Rs. 250 crore. The fund will be utilized for the organic and inorganic growth of the company”.
The company in November had raised Rs. 400 crore through zero coupon Non–convertible Debentures (NCDs) payable after three years. The company has now raised Rs. 263 crore through preferential allotment to the promoter. This amount has been used to repay the term loan of approximately Rs. 400 crore.
Post allotment the paid up equity share capital of Jyothy Laboratories has increased to Rs. 18.10 crore from Rs. 16.60 crore. With this the promoter holding has gone up from 63.69% to 66.7%
Commenting on the occasion, Mr. Ullas Kamath, Joint Managing Director, Jyothy Laboratories said:
“Post successful integration with Henkel India it was the right time to invest in existing brands and also expand JLL’s portfolio. The preferential allotment of shares along with NCDs to a clutch of investors will help JLL to save the yearly interest burden of about Rs. 60 crore leaving a cash balance of about Rs. 250 crore. The fund will be utilized for the organic and inorganic growth of the company”.
The company in November had raised Rs. 400 crore through zero coupon Non–convertible Debentures (NCDs) payable after three years. The company has now raised Rs. 263 crore through preferential allotment to the promoter. This amount has been used to repay the term loan of approximately Rs. 400 crore.
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