Godrej Industries Sells Unit's Stocks Worth Rs 75 Crore

Mumbai: Godrej Industries sold over 30.20 lakh shares of Godrej Properties for Rs 75 crore in a block deal on Wednesday.

Godrej Industries sold 30,20,000 shares in Godrej Properties at Rs 248.5 apiece - a transaction worth Rs 75 crore, block deal data at the BSE showed.

The buyers of the shares were promoters of Godrej Properties - Godrej Investments and Godrej Boyce Mfg Co Ltd - which acquired these shares at Rs 248.5.

Shares in Godrej Properties ended 0.60 per cent lower at Rs 247 on the BSE, while Godrej Industries stock gained 3.41 per cent to Rs 274.30.

Godrej Industries holds a 60.17 per cent stake in Godrej Properties. Godrej Investments has 1.58 per cent stake in the company and Boyce MFG Co holds 2.47 per cent, as per the company's September quarter shareholding pattern.