RKN Enterprises sells 12.65% stake in Godrej Industries for Rs3,803 cr

New Delhi: RKN Enterprises, a part of Godrej Enterprises Group, on Monday sold shares worth Rs 3,803 crore in Godrej Industries Ltd to members of Godrej Industries Group as part of the Godrej family settlement announced in April. According to the block deal data available on the BSE, RKN Enterprises offloaded a total of 4,25,83,272 shares, amounting to a 12.65 per cent stake in Godrej Industries. The shares were disposed of at an average price of Rs 893.05 apiece, taking the combined transaction value to Rs 3,802.90 crore. These shares were acquired by promoters Nadir Burjor Godrej, Pirojsha Adi Godrej, Nisaba Godrej and Tanya Dubash at the same price, thus raising their stake in the group's flagship company Godrej Industries.

Earlier, Godrej Industries had announced that Adi-Nadir Godrej faction will buy the 12.65 per cent stake in Godrej Industries via block deals from RKN Enterprises, thus raising its stake in the group flagship company. "We, Nadir Godrej, Pirojsha Godrej, Tanya Dubash and Nisaba Godrej, are submitting the requisite notification under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) regulations (SEBI SAST Regulations) in respect of the proposed acquisition of shares of Godrej Industries Ltd (GIL), from RKN Enterprises. The acquirers and the seller have been classified as promoter/ promoter group of GIL for more than three years in Sebi SAST Regulations," the company said in a regulatory filing on July 1.

On Monday, shares of Godrej Industries rose 0.82 per cent to close at Rs 899.90 apiece on the BSE. In April, the founding family of 127-year-old Godrej Group, which spans from soaps and home appliances to real estate, had announced to split the conglomerate, with Adi Godrej and his brother Nadir keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai. The group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, according to a statement issued by the group.

Godrej Enterprises Group -- comprising Godrej & Boyce and its affiliates that have a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software -- will be controlled by Jamshyd Godrej as chairperson and managing director. His sister Smita's daughter Nyrika Holkar, 42, will be the executive director. Their families will control this arm that also will hold the land bank, including 3,400 acres of prime land in Mumbai. Godrej Industries Group which includes listed companies Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences will have Nadir Godrej as chairperson and will be controlled by Adi, Nadir and their immediate families.

Pirojsha Godrej, 42, son of Adi, will be the executive vice chairperson of GIG and will succeed Nadir as the chairperson in August 2026. The Godrej family termed the split as "an ownership realignment" of the shareholdings in the Godrej companies. "The realignment has been arrived at in a respectful and mindful way to maintain harmony and to better align ownership in acknowledgement of the differing visions of the Godrej family members. "This will help maximize strategic direction, focus, and agility, and will accelerate the process of creating long-term value for shareholders and all other stakeholders," the company said. Both Groups will continue to use the Godrej brand and are committed to growing and strengthening their shared heritage.