Godrej Industries buys Godrej Consumer Products shares worth Rs 110 crore

MUMBAI: Godrej Industries today raised its stake in Godrej Consumer Products by picking up 16.70 lakh shares in the FMCG firm for around Rs 110 crore from another promoter entity through the open market route.

As per information available with the stock exchanges, Godrej Industries, one of the promoter of Godrej Consumer Products, purchased 16.70 lakh shares of the FMCG firm from another promoter entity, Godrej & Boyce Mfg.

The shares were purchased on an average price of Rs 660 valuing the deal at Rs 110.22 crore.

At the end of June quarter, Godrej Industries held 7.19 crore shares or 21.15 per cent stake in the FMCG firm, while Godrej & Boyce Mfg' holding in the company stood at 36.8 per cent or amounting to 12.52 crore shares.

At the BSE, Godrej Consumer Products slipped marginally by 0.07 per cent to close at Rs 659.15, while Godrej Industries fell by 1.03 per cent to settle at Rs 272.75 today.