Temasek's V-Sciences Offloads Stake in Godrej Agrovet for Rs 212 Crore

V-Sciences Investments, a division of Temasek Holdings, sold a 1.4% stake in Godrej Agrovet for over Rs 212 crore through an open market transaction. Post-sale, V-Sciences' holding in the company decreased to 6.36%. Temasek has previously reduced its stake in Godrej Agrovet in 2022 and 2020.

On Friday, V-Sciences Investments, a branch of Temasek Holdings, divested a 1.4 per cent stake in Godrej Agrovet, totaling over Rs 212 crore, via an open market transaction.

Temasek Holdings, headquartered in Singapore, is a state-owned multinational investment giant with an SGD 389 billion portfolio as of March 31, 2024. The bulk deal data from the National Stock Exchange (NSE) indicates that V-Sciences Investments sold 27.10 lakh shares at an average price of Rs 785.13 each.

Consequently, V-Sciences' ownership in Godrej Agrovet has dropped from 7.77 per cent to 6.36 per cent. Back in May 2022 and February 2020, Temasek had similarly reduced its stake in the agricultural firm. Following the deal, Godrej Agrovet shares rose 1.57 per cent, closing at Rs 794 apiece on the NSE.

(With inputs from agencies.)