Godrej Industries to divest its entire stake in Natures Basket
17th May 2019

Godrej Industries has received approval for divestment of its 100% stake held in Natures Basket, a Wholly Owned Subsidiary of the company. In this regards, the Share Purchase Agreement has been executed on May 17, 2019 between the company, Natures Basket and Spencer's Retail subject to approval of the Shareholders.

The Enterprise Value for the proposed transaction is around Rs 300 crore to be received by the company. The Board of Directors of the Company at its meeting held on May 17, 2019 has approved the same.

Godrej industries is India's leading manufacturer of oleochemicals and makes more than a hundred chemicals for use in over two dozen industries.