Shree Renuka Sugars has received an approval to acquire further shares in Gokak Sugars, one of the subsidiary company of the company. The Board of Directors of the company at its meeting held on August 08, 2018, approved the same.
The Board also approved issuance of Redeemable Preference Shares to LIC of India in lieu of existing Non-Convertible Debentures to the tune of Rs 125 crore. It also approved addition in capacity in respect of two of the distilleries of the company viz. Athani and Havalga, both located in Karnataka and an additional investment of up to Rs 225 crore.
Shree Renuka Sugars is a fully integrated player focused on manufacturing and marketing of sugar, power and ethanol.
