Godrej Industries is planning to divest its stake in Godrej Agrovet through an initial public offering and raise Rs 400 crore. Godrej Agrovet is a diversified, research & development-backed agri-business company that caters to animal feed, oil palm plantations, crop protection, hybrid seeds, dairy and processed poultry.
Godrej Industries currently holds 60.8 per cent stake in Godrej Agrovet. The public issue may also provide an opportunity to Temasek Holdings, Singapore’s State-owned investor, to pare its holding in the company. Temasek had picked up 19.99 per cent stake in Godrej Agrovet in 2012-13 for Rs 572 crore.
Godrej Industries is part of the Godrej group, one of the leading business groups in India and is in the businesses of Oleo-chemicals, surfactants, finance & investments and estate management.
