Marico to raise Rs 5 bn via share sale

Kotak Mahindra Capital Company and Citigroup are advising Marico on the share sale.

Indian consumer products maker Marico Ltd said on Saturday it plans to raise 5 billion rupees ($97.8 million) from the sale of 29.41 million shares to two private equity investors at 170 rupees each.

On Tuesday,a newspaper reported Marico plans to raise 5 billion rupees to fund its latest acquisition.

In February,it bought the personal care business of privately held Indian company Paras Pharmaceuticals from UK consumer goods group Reckitt Benckiser.

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Kotak Mahindra Capital Company and Citigroup are advising Marico on the share sale,which has yet to win shareholder approval.

Indivest Pte Ltd plans to buy 22.06 million of the shares and Baring India Private Equity Fund III Listed Investments Ltd 7.35 million,Marico said in a filing.

Police personnel seen to control the situation during a massive protest over the statehood demand and the inclusion of Ladakh under the Sixth Schedule, in Leh on Wednesday. (ANI Video Grab)

Statehood protest takes violent turn in Ladakh, BJP office set ablaze in Leh

India12 min ago

Protests in Ladakh turned violent as students and youth organisations demanded statehood and Sixth Schedule status. Two elderly protesters fainted, prompting a shutdown call. A BJP office and security vehicle were set on fire. Activist Sonam Wangchuk urged for a peaceful approach. The demand for Sixth Schedule status is due to Ladakh's tribal-majority population and direct central administration.

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