Temasek piles Rs 685 crore into Godrej Consumer Products

Temasek piles Rs 685 crore into Godrej Consumer Products

Godrej Consumer Products has announced that it is to receive a cash injection to the tune of Rs685 crore thanks to an investment from Singapore-based Temasek, according to a report published by Money Control.

Temasek will receive 16.7 million shares for that sum at Rs410 per share, which will be issued to its indirectly owned Baytree Investments division, subject to shareholder approval.

“We welcome Temasek as a significant investor,” Adi Godrej, chairman, Godrej Consumer Products, said. This investment will ensure that we continue to have a strong balance sheet.”

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