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S&P
BSE SENSEX
73,730.16
-609.28
-0.82 %
Corporate Announcement
Security Code
531642
Company
Marico Ltd
Exchange Received Time
08/08/2019 18:33:23
Exchange Disseminated Time
08/08/2019 18:33:32
Time Taken
00:00:09
Announcement under Regulation 30 (LODR)-Updates on Acquisition |
08/08/19 18:33
Further to our letter dated April 13, 2018, intimating investment by Marico Limited ('Marico' or 'the Company') in Revolutionary Fitness Private Limited ('Revofit') by acquiring equity shares upto 22.5% of the post-acquisition paid-up share capital of Revofit, the Company has executed today, i.e. on August 8, 2019, Amendment agreements to the Shareholders Agreement and the Share Subscription Agreement with Revofit for further infusion in the equity share capital of Revofit such that it will eventually hold upto 37% of the post-acquisition paid-up share capital of Revofit. This investment will happen over a period of next one year subject to conditions precedent as set out in the Amendment Agreements.
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