Godrej Consolidation: Adi and Nadir Godrej Acquire 13% StakeGodrej Consolidation: Adi and Nadir Godrej Acquire 13% Stake Godrej Industries Group, helmed by Adi Godrej and Nadir Godrej, has bolstered its control by acquiring a 13% stake in Godrej Industries from RKN Enterprises, owned by their cousins Rishad Naoroji and Jamshyd Godrej. The acquisition, valued at approximately Rs 4,568 crore, is part of an ongoing business separation agreement. Adi and Nadir will now hold a 44% stake in GIL Group’s holding company, up from 31%. Nadir will emerge as the largest shareholder with a 12% stake, while Adi’s children, Tanya, Nisaba, and Pirojsha, will each acquire around 2%. The transaction complements a previous announcement by Adi and Nadir to acquire 21% of Godrej Industries from Jamshyd and Smita Crishna. Under the business separation agreement, Adi and Nadir will control eight entities including Godrej Industries, Godrej Consumer Products, and Godrej Agrovet, while Jamshyd and Smita will receive four companies including Godrej & Boyce Manufacturing and Godrej Infotech. Godrej Industries holds stakes in all listed companies of the GIL group, indicating its pivotal role within the family enterprise. Related Articles: * Malayalam Cinema: Embracing Content over Heroism * Dr. Reddy’s Bolsters Healthcare Portfolio with Nicotine Gum Acquisition * Ultratech Cements Gains Stake in India Cements
Mumbai: Godrej Industries Group, controlled by Adi Godrej and his younger brother Nadir Godrej, is acquiring 13% stake in Godrej Industries from RKN Enterprises, a company owned by their cousins Rishad Naoroji and Jamshyd Godrej. The 13% stake is priced at around Rs 4,568 crore. In a regulatory filing, Godrej Industries said the acquirers will buy RKN’s stake in the company for not more than 25% of the 60-day average market price of Rs 858 apiece. On Tuesday, shares of Godrej Industries closed at Rs 898 apiece, up 1.3% on the BSE. The stake purchase will increase Adi and Nadir’s stake in the GIL Group holding company to 44% from 31%. Adi’s three children, Tanya, Nisaba and Pirojsha, will each buy around 2% of Godrej Industries from RKN Enterprises, while Nadir will buy 8% of the company from RKN Enterprises. Once the transaction is completed, Nadir will own the largest block of 12% in Godrej Industries. The stake purchase is part of the business separation agreement signed between Adi-Nadir and Jamshyd and his sister Smita Crishna. According to the business settlement deed, Adi-Nadir will receive eight entities, including Godrej Industries, Godrej Consumer Products, Godrej Properties and Godrej Agrovet. Jamshyd-Smita will receive four companies, including Godrej & Boyce Manufacturing and Godrej Infotech. In April, Adi-Nadir had announced that they planned to buy 21% of Godrej Industries from Jamshyd-Smita after the business settlement agreement. Godrej Industries owns a stake in all the listed companies of the GIL group.
We have also recently published the following articles
Malayalam film industry is no longer a hero-dominated industry, says Varshangalkku Shesham’ actor Kalesh Ramanand – Exclusive
Kalesh Ramanand praises the Malayalam industry’s shift towards content-driven cinema and highlights his role in ‘Hridayam’. He also discusses the industry’s resilience during the COVID-19 pandemic and his involvement in Dhyan Sreenivasan’s upcoming film ‘Secret’, directed by SN Swamy.
Dr. Reddys buys nicotine gum business from British firm for Rs 50 billion
Dr. Reddys’ acquisition of Haleon’s NRT business, including top brands such as Nicotinell, expands its global consumer healthcare portfolio. The deal, which includes significant upfront and contingent payments, strengthens Dr. Reddys’ position in OTC markets and adds to its existing roster of healthcare brands.
Ultratech Cements acquires 23% stake in India Cements
UltraTech Cement acquires 23% stake in India Cements for Rs 1,885 crore. The deal, which is expected to close within a month, involves purchase of seven crore shares at Rs 267/share. India Cements reported revenue of Rs 5,112 crore in FY24, with revenue down 14.7% and reduced losses in Q4 FY24.
