Godrej Family to Buy Shares in Godrej Industries from RKN Enterprises
Mumbai (Maharashtra) [India], July 3: Nadir Godrej, Pirojsha Godrej, Tanya Dubash, and Nisaba Godrej have proposed to buy shares of Godrej Industries Limited (GIL) from RKN Enterprises, owned by Rishad Naoroji, a cousin of Adi Godrej. The deal involves a 12.65% stake worth Rs 3,858 crore through block deals at a weighted average price of Rs 858.09 per share, totaling Rs 3,653 crore.
Based on Tuesday’s closing price of Rs 897.80 per share on the BSE, Naoroji’s shareholding is worth Rs 3,829 crore, indicating a block deal price discount of about 5%. This acquisition will increase the Godrej family’s total shareholding in GIL from 31.18% to 43.83%.
Last month, the 127-year-old Godrej Group, which operates in various sectors from locks to real estate, announced a split and ownership realignment to maximize strategic direction and create long-term value for shareholders. Jamshyd Godrej stated that the new family agreement will help drive growth with fewer complexities, focusing on high-tech engineering and design-led innovation.
Nadir Godrej added that the company, founded in 1897 to build economic independence for India, continues to innovate with a focus on trust, respect, and community strength. The family looks forward to building on this legacy with focus and agility.
