Corporate | GCPL to raise funds for acquisition plans

Corporate | GCPL to raise funds for acquisition plans

New Delhi: Godrej Consumer Products Ltd, or GCPL, is planning to raise additional funds for facilitating the company’s merger and acquisition (M&A) related plans.

“We would raise funds for possible M&A activity. How much money is to be raised that we will decide in the meeting of the board of directors to held soon," H.K. Press, vice-chairman, GCPL, told Mint. “We would look at any good opportunity in both personal care and household care."

In an announcement to the Bombay Stock Exchange, GCPL said a meeting of the board will be held on 15 December to consider raising additional funds for the firm’s present and future needs, subject to such approvals.

—Vijaya Rathore


Gucci signs JV with Wadhwa Retailers

Mumbai: Gucci, the Italian fashion maker owned by PPR SA, signed a joint venture (JV) with Indian retailers Reena and Ashok Wadhwa, it said in an e-mailed statement.

Gucci will own 51% of the venture, it said. The fashion company opened its third Indian store in Mumbai, according to the statement.