Godrej Industries plans to invest Rs 600 crore in its two group companies – Godrej Properties and Godrej Agrovet – through subscription/purchase of shares.
The company will be seeking approval from its shareholders at the upcoming AGM on August 11 for the same. “The company proposes to invest in its subsidiaries, Godrej Properties Ltd (GPL) and Godrej Agrovet Ltd (GAVL) up to an amount of Rs 300 crore, each, as it considers it to be a good investment opportunity,” Godrej Industries said in a letter to shareholders. While GPL is into real estate development and GAVL is an agri-business company. Godrej Industries’ current investment in GPL is Rs 726.78 crore holding 56.73 per cent stake, while in GAVL it has invested Rs 143.98 crore with a shareholding of 60.81 per cent.