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Other Deals - Listed Firms

Godrej holding co hikes stakes in Godrej Properties, Agrovet

Business Standard  

In a move to increase stake in the group's listed companies, Godrej Industries has bought 2.53 % in Godrej Properties, the realty arm, from six Godrej family trusts for INR 997.2 crore. Godrej Industries' stake in the company will rise to 47.29%. Godrej Industries also bought a 1.63% stake in Godrej Agrovet for INR 194.3 crore, raising its stake in the group firm to 61.53%. Separately, the family trusts bought 4.5% in Godrej Industries for INR 869.4 crore from Anamudi Real Estates and Godrej Seeds and Genetics, which had a 5.06% stake as on March 31. Members of Godrej Family have transferred part of their ownership in Godrej Industries into trusts in the past as part of succession planning.