Emami gets shareholders' nod to raise Rs 700 cr

FMCG firm Emami today said it has received shareholders' nod to raise up to Rs 700 crore through non-convertible debentures (NCDs) on private placement basis.
In a BSE filing, Emami said it has got "consent of 99.99 per cent" of shareholders to raise up to Rs 700 crore through unsecured redeemable non convertible debentures on private placement basis.
Earlier this week Emami Ltd reported 23.92 per cent increase in consolidated net profit to Rs 87.75 crore for the first quarter ended June 30, 2015. Its net sales were at Rs 589.87 crore.
Emami stock closed at Rs 1,312.90, down 0.58 per cent, on the BSE.