Godrej Industries to Divest Entire Stake in Godrej Capital Limited for Up to Rs. 5,000 Crore

Godrej Industries Limited announced that its Board of Directors has approved the divestment of its entire stake held in Godrej Capital Limited, a subsidiary company, to Godrej FS Limited or such other name as may be approved by Ministry of Corporate Affairs, a wholly owned subsidiary of the Company to be incorporated. The transaction is subject to approval of the Shareholders and is expected to be completed within 1 year from the date of shareholders’ approval. The divestment is valued up to Rs. 4,000 Crore for the sale of Equity Shares held in GCL. The Company is looking at expanding and diversifying its business activities, and believes that there is strong potential for financial services business in the country with a decent return on investments.