Godrej Industries invests Rs 197cr in agri-business subsidiary Godrej Agrovet

Godrej Industries Limited (GIL) said that it has increased its stake in Godrej Agrovet Limited (GAVL) from 62.47% to 64.55% by investing INR 197.04 crores.

The Indian conglomerate purchased the additional 2.08% stake by buying four million shares in Godrej Agrovet of the face value of INR 10 per share.

The total paid up equity share capital of Godrej Agrovet as on date is INR 192.4 crores. Its consolidated total income for the financial Year ended 31 March 2022 is INR 8,385.74 crores.

Godrej Industries Limited stated: “GIL being the Holding Company of GAVL, has made further investment in its subsidiary as a strategic investment.”

The publicly-listed Godrej Agrovet is a research and development focused agri-business company. It has operations across five business verticals, that include animal feed, oil palm, crop protection, dairy, and poultry and processed foods.