Godrej family trusts increase stake by about 2% in group company

Shareholding data for the last two years shows that Adi Godrej family members have increased their stake while their cousins, Jamshyd and Smita Crishna's stake remained the same

As part of their plan to reduce cross holdings in group companies, the BSE-listed Godrej Industries, chaired by group patriarch Adi Godrej, has acquired shares worth Rs 997 crore from their family trusts in Godrej Properties. At the same time, the trusts used the proceeds to acquire shares in Godrej Industries for Rs 870 crore.

According to the statistics submitted to the stock exchanges, BNG Family Trust, HNG Family Trust, NG Family Trust, PG Family Trust and SNG Family trust sold 0.42 per cent stake each in Godrej Properties to Godrej Industries and then used the proceeds to buy 0.75 per