Godrej Agrovet invests Rs20 crore in Godrej Maxximilk via rights issue

12 Oct 2022 , 12:35 PM

Godrej Agrovet Limited informed that the company has made additional investment aggregating to Rs20 crore in the Equity Share Capital of Godrej Maxximilk Private Limited (GMPL), a wholly-owned subsidiary company.

The investment has been done by way of subscription to the rights issue and accordingly, has been allotted 5,88,236 equity shares of the face value of Rs10 each of GMPL on October 11, 2022.

Godrej Maxximilk is involved in Agri-business, and its primary commercial operations include acquiring, breeding, rearing, reproducing, raising, selling, and marketing cattle in India, technical work linked to cattle, research for cattle and dairy farming, and creating high-breed cattle.

The purpose of the transaction is to subscribe for the company’s equity shares entitled in GMPL’s rights issue.

The equity shares have been allotted on October 11, 2022.

At around 12.38 PM, Godrej Agrovet was trading at Rs504.65 down by 0.65% from its previous closing of Rs507.95 on the BSE. The scrip touched intraday high and low of Rs508.70 and Rs503 respectively.

For feedback and suggestions, write to us at [e-mail]