Godrej Industries jumps on plan to raise Rs 400 crore through Agrovet IPO

29 Jun 2017 Evaluate

Godrej Industries is currently trading at Rs. 624.95, up by 6.80 points or 1.10 % from its previous closing of Rs. 618.15 on the BSE.

The scrip opened at Rs. 624.90 and has touched a high and low of Rs. 629.75 and Rs. 623.15 respectively. So far 4759 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 655.45 on 21-Jun-2017 and a 52 week low of Rs. 363.90 on 28-Nov-2016.

Last one week high and low of the scrip stood at Rs. 637.00 and Rs. 609.80 respectively. The current market cap of the company is Rs. 20786.49 crore.

The promoters holding in the company stood at 74.77%, while Institutions and Non-Institutions held 17.98% and 7.25% respectively.

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.

Godrej Industries Share Price

778.50 6.15 (0.80%)
28-Mar-2024 16:01 View Price Chart
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