- In accordance with the family settlement agreement, the Adi/Nadir Godrej side has made an open offer to acquire a 26% stake in Astec Lifesciences.
- The offer comes after the announcement of the amicable split of the Godrej Group, with the Adi/Nadir side focusing on listed firms like Godrej Industries.
- The open offer, priced at Rs 1,069.75 per share, reflects the family’s commitment to restructuring amidst the division of business interests.
The Godrej family, following the announcement of their conglomerate split, has extended an open offer to acquire an additional 26% stake in Astec Lifesciences as part of the family settlement agreement. This move underscores the restructuring efforts initiated after the division of business interests between the Adi/Nadir Godrej side and their cousins, Jamshyd and Smita.
Priced at Rs 1,069.75 per share, the open offer signals the Adi/Nadir faction’s intention to consolidate their holdings, particularly in sectors like pharmaceuticals and agrochemicals. This strategic maneuver aligns with their focus on listed firms such as Godrej Industries, reaffirming their commitment to enhancing shareholder value amidst the restructuring process. As the Godrej Group navigates this transition, shareholders of Astec Lifesciences await further developments following the open offer, anticipating its impact on the company’s future trajectory.
