Godrej split: Board exits done, stake divestment to follow
Nadir Godrej resigned from the board of Godrej & Boyce earlier this year, while Jamshyd Godrej relinquished his seat on boards of GCPL and Godrej Properties.
The amicable separation is between two branches of the founding family with Adi Godrej and brother Nadir Godrej on one side and their cousins Jamshyd Godrej and Smita Godrej Crishna on the other. The latter two are brother and sister.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitUniversity of Western AustraliaUWA Global MBAVisitIndian School of BusinessISB Chief Technology OfficerVisitThe two main groupings are Godrej Industries & Associates, led by Adi Godrej and his brother, and Godrej & Boyce (G&B), led by Jamshyd Godrej and his sister. Adi and Nadir Godrej will divest their stakes in Godrej & Boyce to the other branch. Jamshyd Godrej and his side of the family will transfer interests in Godrej Consumer Products (GCPL) and Godrej Properties to their cousins through a family arrangement.
Top executives close to the matter said real estate estimated at Rs 3,400 crore, mostly prime land in the Mumbai suburbs, will remain under Godrej & Boyce (G&B), and a separate agreement will be worked out to govern ownership rights.
The Godrej Group comprises five listed companies — GCPL, Godrej Properties, Godrej Industries, Godrej Agrovet and Astec Lifesciences — valued collectively at Rs 2.34 lakh crore at close of markets on Thursday. The five listed firms reported nearly
