RKN Enterprises, a part of Godrej Industries Group, sold its shares in Godrej Properties and Godrej Agrovet to family members for INR 1,652 crore as part of a family settlement announced in April. This sale included 41.46 lakh shares in Godrej Agrovet for INR 331.70 crore and 39.86 lakh shares in Godrej Properties for INR 1,320.90 crore. The buyers were family members Freyan Crishna Bieri, Jamshyd Naoroji Godrej, Navroze Jamshyd Godrej, Nyrika Holkar, and Smita Godrej Crishna. This follows the Godrej family's decision to split the conglomerate, with Adi and Nadir Godrej retaining Godrej Industries and Jamshyd Godrej controlling Godrej & Boyce.
Earlier this month, RKN Enterprises, which is part of the Godrej Industries Group, sold its shares in Godrej Properties and Godrej Agrovet to other members of the Godrej family for INR 1,652 crore. This sale is part of a family settlement announced in April. According to data from the National Stock Exchange (NSE), RKN Enterprises sold 41.46 lakh shares, representing a 2.16% stake in Godrej Agrovet, for INR 331.70 crore at an average price of INR 800.05 per share.
Additionally, RKN Enterprises sold 39.86 lakh shares, representing a 1.43% stake in Godrej Properties, for INR 1,320.90 crore at an average price of INR 3,313.90 per share. The shares were purchased by family members Freyan Crishna Bieri, Jamshyd Naoroji Godrej, Navroze Jamshyd Godrej, Nyrika Holkar, and Smita Godrej Crishna, increasing their stakes in the two companies.
Earlier announcements from Godrej Properties and Godrej Agrovet confirmed that these family members would acquire shares from RKN Enterprises. Following the sale, shares of Godrej Agrovet rose 1.19% to INR 809.60 each, while shares of Godrej Properties fell 0.42% to INR 3,300 each on the NSE. Last week, RKN Enterprises also sold shares worth INR 3,803 crore in Godrej Industries Ltd to other family members as part of the same settlement.
In April, the Godrej family, which founded the 127-year-old Godrej Group, decided to split the conglomerate. Adi Godrej and his brother Nadir will keep Godrej Industries, which includes five listed firms, while cousins Jamshyd and Smita will control Godrej & Boyce and its affiliates, along with a significant land bank in Mumbai.
Adi and Nadir Godrej will lead Godrej Industries Group, while Jamshyd Godrej and his niece Nyrika Holkar will lead Godrej Enterprises. Both groups will use the Godrej brand name and have agreed to a six-year non-compete agreement, preventing them from entering each other's business domains during this period. After six years, they can expand into each other's domains but cannot use the Godrej name for new ventures. The split was facilitated through the transfer of shares rather than cash.
Adi and Nadir Godrej will transfer their shares in Godrej & Boyce, while Jamshyd and his family will transfer their interests in Godrej Consumer Products and Godrej Properties. As part of the agreement, Adi and Nadir Godrej resigned from the board of Godrej & Boyce, while Jamshyd Godrej left the boards of Godrej Consumer Products and Godrej Properties. Nadir Godrej will serve as the chairperson of Godrej Industries Group, with Adi Godrej's son Pirojsha Godrej set to succeed him in August 2026.
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