The founding family of 127-year-old Godrej Group, which spans from soaps and home appliances to real estate, on Tuesday announced an ownership redistribution of its shareholdings in the conglomerate. This realignment will take effect once the necessary regulatory approvals have been secured.
According to an agreement, Adi and his brother Nadir will retain control of Godrej Industries, which encompasses five listed firms. Meanwhile, cousins Jamshyd and Smita will inherit unlisted Godrej & Boyce along with its affiliates and a significant land bank, including a prime property in Mumbai.
