Adi-Nadir family to buy 12.65% stake in Godrej Industries from RKN Enterprises. Adi-Nadir Godrej Family to buy 12.65% stake in Godrej Industries: These stakes will be purchased through block deal from RKN Enterprises

Adi-Nadir Godrej Group will buy 12.65% stake in Godrej Industries through a block deal from RKN Enterprises under the family settlement. Due to which the stake in the flagship company of Adi-Nadir Godrej Group will increase.

The company gave this information in the stock exchange. Adi Godrej’s cousin Rishad Naoroji owns RKN Enterprises. As of Tuesday, his 12.65% stake is worth Rs 3,858 crore.

According to the BSE notice, Adi-Nadir Godrej Group will follow the pricing formula of Securities and Exchange Board of India i.e. Sebi to acquire the stake of RKN Enterprises.

Shares of Godrej Industries closed 1.65% higher at Rs 900.55 today.

Godrej Family had announced the settlement on May 2.
On May 2 this year, the Godrej Family had announced an amicable settlement. Under which Adi-Nadir and Jamshed-Smita families had bought each other’s stake in each other’s companies with zero consideration.

Adi & Nadir Godrej Group controls Godrej Industries, Godrej Properties and Godrej Consumer Products. Whereas, Jamshed Godrej family has control of unlisted Godrej and Boyce Manufacturing.

Adi-Nadir family to acquire additional 20.84% ​​shares
As per the plan, the Adi-Nadir family will acquire an additional 20.84% ​​shares in Godrej Industries from the Jamshed-Smita family. Some promoters will retire from Anamudi Real Estates LLP, which holds 0.57% shares of Godrej Industries.

With this, the Adi-Nadir family will own 52.01% stake in Godrej Industries with their existing shareholding. Godrej Industries is the holding company of Godrej-listed entities.

Adi-Nadir’s cousin Rishad Naoroji is the director of RKN Enterprises.
Adi-Nadir’s cousin Rishad Naoroji is the director of RKN Enterprises. Naoroji will retire from Anamudi Real Estates. They are a promoter entity. Now only Adi Godrej family will remain partner in Anamudi Retirals.

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127 year old Godrej Group will be divided: Adi-Nadir Godrej will get the listed companies of the industries; Cousin Jamshed’s shares in non-listed companies

Godrej Group, which manufactures everything from soap to lockers, is going to be divided. Godrej Family has reached an agreement to split the 127-year-old group into two parts. Under this, one share will go to Adi Godrej and his brother Nadir while the other will go to cousin Jamshed and sister Smita. Read the full news…