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Splitting into Godrej Enterprises and Godrej Industries brings clarity, with no major immediate stock impact. Analysts await Vikhroli land development by Godrej and Boyce, potentially positive for stock.
Lawyers give a thumbs-up to the amicable arrangement at one of India's oldest business houses. Settlement agreement done keeping in mind the interest of future generations
According to a stock exchange filing, the cousins, Jamshyd and Smita, will receive the unlisted Godrej & Boyce Mfg. Co., along with its affiliates and a huge land bank.
Adi Godrej and his brother Nadir will keep the five listed companies of Godrej Group, while cousins will get the unlisted firms.
The two factions of the Godrej family - Godrej Industries & Associates led by Adi Godrej and his brother Nadir, and Godrej & Boyce Manufacturing Company (G&B) involving cousins Jamshyd Godrej and Smitha Godrej Crishna - are likely to finalise soon the formal split of business verticals as diverse as engineering, appliances, security solutions, agricultural products, real estate, and consumer products, said the officials familiar with the matter.