Godrej Industries acquired an additional 4.04% stake in Godrej Capital; paying Rs685 crore| Roadsleeper.com

Godrej Industries Limited has announced that the company has made another investment in Godrej Capital Limited, its subsidiary. As a result, the company holds 91.81% of the total paid-up capital of Godrej Capital Limited.

GCL is a Core Investment Company holding Equity Shares of Godrej Housing Finance Limited and Godrej Finance Limited (formerly known as Ensemble Holdings and Finance Limited), the company said in its filing.

It is GIL’s further acquisition of the equity stake of GCL based on the Valuation Report for a consideration of ~Rs685 crore.

GIL has acquired 85,097 fully paid equity shares of face value of Rs10 each of GCL.

The total consolidated revenue of GCL for the financial year ended March 31, 2022, was Rs5,486 lakh.

Godrej Industries is currently trading at Rs477.70 down by Rs3.25 or 0.68% from its previous close of Rs480.95 on the BSE. The scrip reached intraday highs and lows of Rs487.50 and Rs477.70 respectively.