Godrej Industries acquires 100% stake in subsidiary NBL

FMCG major Godrej Industries today said it has acquired the entire stake in its step down subsidiary Natures Basket Ltd (NBL) for an undisclosed amount.

The company has acquired the entire shareholding in NBL from Godrej Agrovet Ltd (GAVL), which itself is a subsidiary of Godrej Industries, it said in a filing to the Bombay Stock Exchange.

"With this acquisition NBL has become a direct 100 per cent subsidiary of the company," Godrej Industries said.

According to the FMCG major, shareholders of the company had approved investment in NBL. NBL focuses on specialty food including fresh produce and is positioned as a premium food chain.

 

Shares of Godrej Industries today closed at Rs 144.80, or up by 0.24 per cent on the BSE.