Godrej Properties shares jump nearly 2% after CCI nod for family settlement agreements

Shares of Godrej Properties surged nearly 2% after the Godrej family received approval from the Competition Commission of India (CCI) for its family settlement agreements. The CCI’s nod allows the Mumbai-based Godrej Group to realign interests, legal ownership, and management of various entities within the group.

The realignment involves a mutual arrangement among the branches of the Godrej family, including Adi Godrej and family, Nadir Godrej and family, Jamshyd Godrej and family, and Smita Crishna and family. This process will follow the Family Settlement Agreement dated April 30, 2024, as stated by the CCI on June 18.

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The targeted businesses in the proposed combination include entities from the GILAC Group and the G&B Group. The GILAC Group comprises Godrej Industries Limited, Godrej Consumer Products Limited, Godrej Properties Limited, Godrej Agrovet Limited, Godrej Seeds & Genetics Limited, Astec Lifesciences Limited, Innovia Multiventures Private Limited, and Anamudi Real Estates LLP. The G&B Group includes Godrej & Boyce Manufacturing Company Limited, Godrej Holdings Private Limited, Godrej Infotech Limited, and RKN Enterprises.

As of 11:18 am, Godrej Properties shares were trading 0.56% higher at ₹3,017.65 on the NSE.