Godrej Industries buys 10 lakh shares of GCPL

MUMBAI: Godrej Industries today acquired over 10 lakh shares of Godrej Consumer Products Ltd for Rs 87 crore from other promoter entities.

As per information available with the stock exchanges, Godrej Industries picked up a total of 10.2 lakh shares of Godrej Consumer Products Limited (GCPL) from nine promoters through the open market route.

The shares were purchased for an average price of Rs 852, valuing the transaction at Rs 86.90 crore.

Among the promoters who sold shares are Nadir Burjor Godrej, Navroze Jamshyd Godrej, Nyrika Vijay Crishna, Nisaba Adi Godrej, Pirojsha Adi Godrej, Rishad Kaikhushru Naoroji, Raika Jamshyd Godrej, Tanya Arvind Dubash and Freyan Vijay Crishna.

As of September quarter, Godrej Industries held 7.48 lakh shares, amounting to 21.9 per cent stake, in the FMCG firm.

Earlier in August, Godrej Industries had bought 12 lakh shares of Godrej Consumer Products for Rs 103 crore from other promoter entities.

Godrej Consumer Products shares today declined by 1.34 per cent to settle at Rs 840 apiece on the BSE.