Marico redeems preference shares

Marico Ltd has announced that pursuant to the call option exercised by Kotak Mahindra Prime Ltd, the Company on November 30, 2006, has redeemed 7.5 crore 9.75% Redeemable Preference Shares of Rs 10 each. The Company has also created Capital Redemption Reserve (CRR) as required under Clause (d) of Section 80 of the Companies Act, 1956.

Source : Equity Bulls

Keywords