CONNECT WITH US
eCommerce

eCommerce

Four Godrej family members buy 1 pc stake in Godrej Consumer for Rs 900 cr

ET Retail – Ecommerce logo

Published on

Add as a preferred source on Google
Four Godrej family members buy 1 pc stake in Godrej Consumer for Rs 900 cr

Four Godrej family members buy 1 pc stake in Godrej Consumer for Rs 900 cr

Nadir Burjor Godrej and Adi Godrej's heirs recently acquired a 1 percent stake in Godrej Consumer Products, purchasing 1,02,30,000 shares at Rs 880 each, totaling over Rs 900 crore. This transaction occurred via block deals from two entities within the promoter group. Notably, despite this shift in shareholding, the overall ownership percentage among the promoters remained unchanged.

Four members of the Godrej family on Thursday bought a 1 per cent stake in FMCG major Godrej Consumer Products for over Rs 900 crore, buying the shares from two promoter group entities through separate block deals. The buyers were Nadir Burjor Godrej , the younger brother of billionaire Adi Godrej , and Adi Godrej's children Nisaba Adi Godrej, Pirojsha Adi Godrej and Tanya Arvind Dubash. Together, they purchased 1,02,30,000 shares, representing a 0.99 per cent stake in Mumbai-based Godrej Consumer Products , according to data on the BSE. The shares were bought at an average price of Rs 880 apiece, taking the combined deal value to Rs 900.24 crore. Advt

Apart from these block deals, promoter group entities, Godrej Industries and Godrej Seeds & Genetics Ltd, sold an equal number of shares at the same price, as per the data. The transactions will not alter the combined shareholding of the promoters and promoter group entities in the company. Shares of Godrej Consumer Products slipped 0.63 per cent to close at Rs 874.50 apiece on the BSE.


Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.