Godrej Industries acquire further 4.04% stake in Godrej Capital; pays Rs685 crore

Godrej Industries Limited has announced that company has made further investment in Godrej Capital Limited, it’s subsidiary. Consequently, the Company now holds 91.81% of the total paid-up share capital of Godrej Capital Limited.

GCL is a Core Investment Company that holds Equity Shares of Godrej Housing Finance Limited and Godrej Finance Limited (formerly known as Ensemble Holdings and Finance Limited), stated company in its filing.

This further acquisition of Equity Shares of GCL is done by GIL based on the Valuation Report for a total consideration of ~Rs685 crore.

GIL has acquired 85,097 fully paid-up Equity Shares of the face value of Rs10 each of GCL.

The Total Consolidated Income of GCL for the Financial Year ended March 31, 2022, was Rs5,486 lakh.

Godrej Industries is currently trading at Rs477.70 down by Rs3.25 or 0.68% from its previous closing of Rs480.95 on the BSE. The scrip touched intraday high and low of Rs487.50 and Rs477.70 respectively.

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( With inputs from indiainfoline)