Adi-Nadir family will buy 12.65 percent stake of RKN Enterprises in Godrej Industries.

Adi-Nadir Godrej Family is going to buy 12.65 percent stake in Godrej Industries through block deal. This purchase is being made under the terms of family settlement. Adi-Nadir Godrej family is buying this stake from RKN Enterprises. With this purchase, Adi-Nadir Godrej’s stake in Godrej Industries will increase. RKN Enterprises is owned by Rishad Neroji and his 12.65 per cent stake in Godrej Industries is worth around Rs 3858 crore.

According to the BSE notice, Adi-Nadir Godrej Family will adopt SEBI’s pricing formula to buy stake in RKNL Enterprises. In May this year itself, the Godrej family had announced that they are entering into an agreement with mutual consent in which the Adi-Nadir family and the Jamshed-Smita family will not hold any stake in each other’s companies and the other party’s stake in their respective companies. Will buy. Adi-Nadir Godrej will control Godrej Industries, Godrej Properties and Godrej Consumer Products. The other party will control the unlisted Godrej business and Boyce.

There were talks between the family for the last 5 years regarding the partition agreement which included many very complex and important issues related to valuation of listed and unlisted companies, property in Mumbai and use of Godrej brand. Along with Uday Kotak, Cyril Shroff, Nimesh Kampani and Jiya Modi became advisors to the family to help in the partition. After 5 years of negotiations, the family has agreed to the terms of partition.