RKN Enterprises is owned by Rishad Naroaji, a cousin of Adi Godrej, and his 12.65 per cent stake is worth Rs 3,858 crore as of Tuesday
Adi/Nadir family to acquire 20.84% in Godrej Inds from Jamshyd/Smita family, and another 12.65% from RKN Enterprises via block deals
Each family may sell the shares it holds personally and/or via trusts to the other family in tax-neutral transactions
Shares of Godrej Group companies rallied up to 9 per cent in Thursday's trading session after the Group announced a split in the 127-year old family business.
Technical outlook on Godrej group listed stocks: Shares of Godrej family have delivered mind-boggling returns of up to 73 fold in the past years. Here's what to expect in the near term.
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Adi Godrej family gets control of listed entities while cousin Jamshyd to own Godrej & Boyce and land bank
In the statement, the Godrej family termed the split as 'an ownership realignment' of the shareholdings in the Godrej companies
Godrej Agrovet, Godrej Industries, Godrej Properties can potentially rally up to 10% from current levels, while Astec Life and Godrej Consumer Products can fall up to 17%, suggest charts.
Industry executives said that the two arms of the Godrej family are likely to finalise the formal split of business verticals
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From rotating chairmanship to handing over firm to professionals, top family businesses have tried different formulae to ensure smooth transition
Godrej said the company's "best years are ahead" and looks forward to Nadir and his team achieving exciting aspirations
Business Standard brings you the top headlines this evening
Nadir Godrej, who is currently Managing Director of GIL, will take over as Chairman and Managing Director of the company
Veteran industrialist and Godrej Group Chairman Adi Godrej will step down from the board of Godrej Consumer Products Ltd (GCPL) next month.
The board will be expanded further to include a diverse mix of industrialists, academics and public policy practitioners
The company has lagged peers in earnings, stock returns in the outgoing MD's tenure
Awards announced for nine other categories; Adi Godrej gets Lifetime achievement award
Analysis of S&P BSE 500 companies suggests that promoters of Indian private-sector companies in particular could end up paying at least 20 per cent more as additional tax on the same dividend income