EID Parry has received an approval for investment of an amount of Rs 90 lakh in the equity share capital of Parrys Investments, a wholly owned subsidiary. The board of directors at its meeting held on February 21, 2017 has approved for the same.
The board also approved investments held in the Cumulative Redeemable Preference Shares in Parry Sugars Refinery India (PSRIPL), a wholly owned subsidiary aggregating to Rs 141 crore to be converted into equity shares of PSRIPL.
EID Parry India is engaged in the business of manufacturing and marketing of sugar and bio products.