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BSE SENSEX
72,943.68
-456.10
-0.62 %
Corporate Announcement
Security Code
531642
Company
Marico Ltd
Exchange Received Time
24/09/2020 16:48:02
Exchange Disseminated Time
24/09/2020 16:48:11
Time Taken
00:00:09
Announcement under Regulation 30 (LODR)-Diversification / Disinvestment |
9/24/2020 4:48:03 PM
This has reference to the intimations filed by the Company on April 13, 2018 and August 8, 2019, about the investments made by it in the equity share capital of Revolutionary Fitness Private Limited ('Revofit'), a company providing a fitness and wellness solutions app, to explore the hybrid physical-digital business model and offer an integrated fitness solutions so as to deliver a healthy lifestyle to its consumers.
The Company has now exited this venture by selling its entire equity investment in Revofit after evaluating the long term prospects of the aforesaid investment.
The aforesaid sale of investment is not a material event or information in relation to the Company and the intimation given hereby is only to update on the development pursuant to Regulation 30(7) of the LODR Regulations.
This is for your information and record.
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