Godrej infuses Rs. 600-cr in realty arms

Ensuring smooth flow of funds to its real estate arm so that it can commission its various on- going projects across the country, Godrej Industries has recently decided to infuse Rs. 600-cr in Godrej Properties and Godrej Agrovet Limited(GAVL) thereby clearing an equal amount worth Rs. 300-cr each through subscription or purchasing of shares.

The Godrej Properties Limited (GPL) is into real estate development and the parent company's current investment in GPL is Rs. 726.78-cr holding 56.73% stake, while GAVL engaged in agribusiness, it has invested Rs. 143.98-cr with a shareholding of 60.81%. The company is also seeking approval from its shareholders to enable it to acquire by way of subscription, purchase or otherwise, the securities of GPL and GAVL, exceeding 60% per cent of its paid-up share capital, free reserves and securities premium account or 100% of its free reserves and securities premium account, whichever is more.

Main Menu

Godrej infuses Rs. 600-cr in realty arms

NBM Media

NBM Media

Subscribe now to receive our weekly e-newsletter ‘IndiaConstructionWeek’ — a 360° round-up of the construction industry.

Enter OTP