Agrovet listing additional trigger for Godrej Industries

Nature's Basket has 26 stores across Pune, Mumbai and Bangalore and gets about 7% of its revenues from its online site

Strong prospects of subsidiaries and steady performance of its investment companies are expected to be the much-needed shot in the arm for Godrej Industries’ valuation.

While it has stakes in Godrej Consumer (23.8 per cent) and Godrej Properties (56.7 per cent), and will benefit from their growth, the immediate trigger is the listing of Godrej Agrovet, its 63.7 per cent subsidiary.

Given that Godrej Agrovet is valued at Rs 8,600-8,800 crore, the value of Godrej Industries’ stake after considering holding company discount would be about Rs 4,200 crore.

In addition to the IPO (initial public offering) trigger, analysts at Sharekhan expect the company’s