Four Godrej Family Members Buy 1% Stake in Godrej Consumer for Rs 900 Cr

New Delhi: Four members of the Godrej family on Thursday bought a 1 per cent stake in FMCG major Godrej Consumer Products for over Rs 900 crore, buying the shares from two promoter group entities through separate block deals.

The buyers were Nadir Burjor Godrej, the younger brother of billionaire Adi Godrej, and Adi Godrej’s children Nisaba Adi Godrej, Pirojsha Adi Godrej and Tanya Arvind Dubash.

Together, they purchased 1,02,30,000 shares, representing a 0.99 per cent stake in Mumbai-based Godrej Consumer Products, according to data on the BSE.

The shares were bought at an average price of Rs 880 apiece, taking the combined deal value to Rs 900.24 crore.

Apart from these block deals, promoter group entities, Godrej Industries and Godrej Seeds & Genetics Ltd, sold an equal number of shares at the same price, as per the data.

The transactions will not alter the combined shareholding of the promoters and promoter group entities in the company.

Shares of Godrej Consumer Products slipped 0.63 per cent to close at Rs 874.50 apiece on the BSE.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)