Godrej Family Executes Major Stake Sale Amid Settlement

RKN Enterprises, part of Godrej Industries Group, sold stakes in Godrej Properties and Godrej Agrovet to members of Godrej Industries Group for Rs 1,652 crore. This move follows the family settlement in April, which split the 127-year-old conglomerate's assets between two branches of the Godrej family.

RKN Enterprises, a segment of the Godrej Industries Group, divested its stakes in Godrej Properties and Godrej Agrovet on Thursday, amounting to Rs 1,652 crore. This follows the broader family settlement announced in April.

According to National Stock Exchange (NSE) data, RKN Enterprises offloaded 41.46 lakh shares in Godrej Agrovet at Rs 800.05 per share, totaling Rs 331.70 crore. Additionally, 39.86 lakh shares in Godrej Properties were sold for Rs 3,313.90 each, bringing in Rs 1,320.90 crore.

The shares were acquired by family members Freyan Crishna Bieri, Jamshyd Naoroji Godrej, Navroze Jamshyd Godrej, Nyrika Holkar, and Smita Godrej Crishna, bolstering their stakes in both companies. The transaction is part of the Godrej family's recent division of their 127-year-old conglomerate.

(With inputs from agencies.)