The Godrej family has begun the formal division of the conglomerate established more than a century ago by exiting the boards of each others companies and will soon divest stakes in them, said people with knowledge of the matter.
The amicable separation is between two branches of the founding family with Adi Godrej and brother Nadir Godrej on one side and their cousins Jamshyd Godrej and Smita Godrej Crishna on the other. The latter two are brother and sister.
Godrej Industries: The Godrej family has started the formal division of their conglomerate, with Adi and Nadir Godrej exiting boards and divesting stakes. The division aims to establish clear ownership for future generations and enhance shareholder value.
The Godrej Group, the ₹1.76-lakh-crore conglomerate that began its industrial journey five decades before Independence selling locks to the citizens of a then crime-prone Bombay, is reportedly in advanced stages of crucial negotiations to conclude the formal division of its diverse businesses, top industry executives familiar with the matter told ET.
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.