Godrej Industries raises stake in subsidiary

Godrej Industries today said it has purchased an additional 2.87 per cent stake in its subsidiary Godrej Agrovet Ltd (GAL), taking total shareholding to 63.68 per cent in the arm.

Godrej Industries in a filing to the BSE said, "The company has increased its stake in Godrej Agrovet Ltd from 60.81 per cent to 63.68 per cent."

GAL is in various agri-businesses like animal feed, oil palm plantations, agri inputs, dairy and processed poultry. Its revenue was Rs 4,351 crore in 2015-16.