The Adi-Nadir Godrej family has acquired a 12.65% stake worth Rs 3,803 crore from promoter entity RKN Enterprises in group flagship Godrej Industries, according to bulk deal data released on Monday. Last week, Godrej Industries had disclosed that members of the Adi Godrej and Nadir Godrej families would acquire cousin Rishad Naoroji’s 12.65% stake in the company as part of the family settlement that was announced two months ago. RKN Industries is owned by Naoroji.
Nadir Godrej acquired a 7.57% stake or 25.5 million shares worth Rs 2,277 crore at Rs 893 per share. The three children of Adi Godrej — Tanya, Pirojsha and Nisaba — acquired 1.69% each for Rs 509 crore in the company at the same price. Their total shareholding in Godrej Industries, which is the holding company of the Godrej Industries Group (GIG), has increased to 43.83% after the block deal from 31.18%.
Godrej Industries shares closed at Rs 899.90 on the BSE on Monday.
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Naoroji, 72, an environmentalist, has shares in entities like Godrej Agrovet, Godrej Consumer, Godrej Properties, besides Godrej Industries, valuing his shareholding at nearly Rs 7,000 crore. These firms are part of the GIG faction created after the family settlement was put in place in May, led by the Adi and Nadir Godrej families. Godrej Enterprises Group (GEG), which will be led by Jamshyd Godrej and his sister Smita Crishna, will have control of Godrej & Boyce along with its affiliates and a substantial land bank located in Vikhroli, Mumbai.
While Nadir Godrej is the chairperson of GIG and Pirojsha Godrej is the vice-chairperson, Jamshyd Godrej is the chairperson and MD of GEG and niece Nyrika Holkar is executive director. Pirojsha Godrej will be handed over charge of GIG in 2026.
At the time of the announcement of the family pact in May, the Adi-Nadir Godrej family had indicated that they would acquire Naoroji’s 12.65% stake in Godrej Industries in a bid to consolidate their holding. The Adi-Nadir Godrej faction had also said that they would pick up a 20.84% stake from Jamshyd Godrej-Smita Crishna families to untangle cross-holdings.
From: financialexpress
Financial News
