Godrej & Boyce Manufacturing Co, the holding company of the Rs 4,000 crore Godrej group, has sold 4.61 per cent holding in Godrej Foods, thereby reducing its stake in the group company to 45.26 per cent of the paid up capital.
The company tendered over 13 lakh shares of rupee one each in response to the offer of Godrej Foods to purchase up to 40 per cent of the existing shares outstanding at a price of Rs 1.
As on June 2, 2002, Godrej and Boyce held 49.87 per cent stake in Godrej Foods and the stock was offered in the period between June 3, 2002 and June 10 ,2002.
The company intimated the Bombay stock exchange about the transaction today in accordance with the mandatory disclosure requirements of Securities and Exchange Board of India