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Godrej Industries raises stake in Godrej Capital to 91.11%
Godrej Industries acquired 22,107 fully paid-up equity shares of face value Rs 10 each through a rights issue undertaken by GCL, with GIL fully subscribing to it
The acquisition is in line with the shareholder-approved investment limits under Section 186 of the Companies Act, 2013. Godrej Capital became a subsidiary of Godrej Industries on March 25, 2021.
Godrej Industries Limited (GIL) has increased its shareholding in its subsidiary, Godrej Capital Limited (GCL), from 90.89% to 91.11%.
The company acquired 22,107 fully paid-up equity shares of face value Rs 10 each through a rights issue undertaken by GCL, with GIL fully subscribing to it. This investment represents a primary infusion of capital of approximately Rs 409 crore, based on a valuation report.
The total paid-up share capital of GCL now stands at Rs 42.78 lakh. The total consolidated income of GCL for FY25 stood at Rs 1,620.20 crore, compared to Rs 889.14 crore in FY24 and Rs 346.91 crore in FY23.
The acquisition is in line with the shareholder-approved investment limits under Section 186 of the Companies Act, 2013. Godrej Capital became a subsidiary of Godrej Industries on March 25, 2021.
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