Mumbai, Nov 15 Godrej Consumer Products Ltd will come up with a rights issue at its board meeting to be held on November 23, according to a company release.

The number of shares, issue price, ratio and other terms of issue will be decided in due course, said a company official.

Present in sectors of toiletries, hair dye, fabric care, baby care with soaps being the prime products, GCPL’s market share in soaps is 10.2 per cent, while that in liquid detergents is 78.5 per cent.

The company recently acquired Rapidol of South Africa, getting over 86 per cent share of the fast growing South African ethnic hair colour market and plans to expand its global presence in hair colour, while focusing on the hair oil segment in India.

GCPL also acquired Godrej Global Mideast FZE at Sharjah to distribute its products and are open to more acquisitions in the UAE. The company’s scrip on Thursday closed at Rs 128.95, up 5.61 per cent from the previous day’s close of Rs 122.80 at the BSE.

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