Godrej industries’ subsidiary -- Pyxis Holdings has acquired majority stake in group firms Godrej Housing Finance (GHFL) and Ensemble Holdings and Finance (EHFL). The move would help Godrej group, which is looking at expanding and diversifying its business activities such as Housing Finance Business. The total consideration paid for the acquisition of GHFL is Rs 405.9 crore. While shares of EHFL were transferred by the company to Pyxis Holdings for a consideration of Rs 5.73 crore in a transaction between related parties.
Accordingly, EHFL has ceased to be a direct wholly-owned subsidiary of the company and has become a step-down subsidiary of the company with Pyxis being the immediate holding company for EHFL. The company holds 85 per cent stake in Pyxis. GIL is a holding company of the Godrej Group. It has significant interests in consumer goods, real estate, agriculture, chemicals and financial services through our subsidiary and associate companies.
Godrej industries a part of Godrej group, is India's leading manufacturer of oleochemicals and makes more than a hundred chemicals for use in over two dozen industries.
