According to a release from the CCI, the procedure will be followed in line with the Family Settlement Agreement, dated April 30, 2024 (FSA).
The Competition Commission of India (CCI) has approved the Mumbai-based Godrej Group’s proposals to realign interests, transfer legal ownership, and manage different group businesses.
Members of the Godrej family branches, namely Adi Godrej and family (ABG Family), Nadir Godrej and family (NBG Family), Jamshyd Godrej and family (JNG Family), and Smita Crishna and family (SVC Family), have mutually agreed to this realignment. The CCI stated in a release on June 18 that the procedure will be carried out in compliance with the Family Settlement Agreement, dated April 30, 2024 (FSA).
The target companies involved in the proposed merger are the G&B Group Entities and the GILAC Group Entities.
Among the GILAC Group companies are Godrej Industries Limited, Godrej Consumer Products Limited, Godrej Properties Limited, and Godrej Agrovet Limited. The other companies in the group include Godrej Seeds & Genetics Limited, Astec Lifesciences Limited, Innovia Multiventures Private Limited, and Anamudi Real Estates LLP.
The organizations that comprise the G&B Group include Godrej & Boyce Manufacturing Company Limited (a), Godrej Holdings Private Limited (b), Godrej Infotech Limited (c), and RKN Enterprises (d).
Godrej Consumer Products Ltd. saw a 0.51 percent boost in share price to ₹1400.15 during Tuesday’s trading. It hit a high of ₹1405.1 and a low of ₹1380.0 during the session.
Ardeshir and Pirojsha Burjorji Godrej founded the company in 1897. It is involved in a number of industries, including consumer goods, real estate, industrial engineering, furniture, appliances, security, and agricultural products.