Godrej group chairman and president of the Confederation of Indian Industry (CII) Adi Godrej on Saturday said the entrepreneurial environment in the country was inadequately geared, particularly for starting a business.
After months of speculation, American chocolate maker Hershey will acquire the balance 49 per cent stake held largely by Godrej Industries (43 per cent) and a minority shareholder ( six per cent) in the joint venture company Godrej Hershey Ltd.
The institutional placement programme (IPP) of Godrej Industries on Tuesday received bids for 26.24 million shares. It had set a price band of Rs 210 to Rs 235 per share. A the top end of the price band the company will raise Rs 405 crore.
The institutional placement programme (IPP) of leading fast moving consumer goods firm Godrej Industries on Tuesday received encouraging response from investors as the share-sale received bids for 26.24 million shares as against a maximum of 17.23 million
Godrej Industries has dipped 4% to Rs 236 extending its previous day’s around 2% fall after the promoters have decided to reduce their holdings in the company to 75% from current 79% through issue of equity shares.
Godrej Industries said on Wednesday its consolidated net profit declined by 60.6 per cent to Rs 43 crore for the fourth quarter ended March 31. The company had posted a net profit of Rs 109 crore during the same period last year.