Godrej Industries today said that its Board of Directors have passed a circular resolution for approving a part sale of its investments in its subsidiary, Godrej Agrovet Limited (GAVL).
Also, a part of the circular resolution will be approval of consideration of strategic partners in GAVL.
News reports had earlier said that global private equity majors - Kohlberg Kravis Roberts (KKR) and Apollo Global management LLC have evinced interest to buy stake in GAVL.
It was stated in a news report that GAVL that is looking to raise about Rs 500-600 crore by diluting about 15-20% stake.
GAVL is engaged in manufacturing agriculture and poultry-based products. The company is known for brands such as Real Good Chicken and Yummiez brands and operates in four business areas - Agri Input, Animal Feed, Oil Palm & Plant Biotech and Godrej Tyson Foods.