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Godrej Industries to raise Rs400 crore through Godrej Agrovet IPO

LiveMint logoLiveMint 28-06-2017 PTI

New Delhi: Godrej Industries Ltd will sell shares in the initial public offer (IPO) of its group firm Godrej Agrovet to raise up to Rs400 crore.

Godrej Industries owns 60.8% in Agrovet, which is in businesses such as agri-inputs, animal feeds, palm oil manufacturing, dairy and poultry.

In a filing to the BSE, Godrej Industries informed that its board “has decided to participate in the IPO of equity shares by Godrej Agrovet Ltd”. “Our company proposes to sell such number of equity shares in Godrej Agrovat Ltd up to Rs400 crore through the offer,” it added.

The board has authorised the management “to consider and finalise the terms and condition” for participation in the offer, it further added.

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