Godrej Industries rose 3.15% to Rs 595.85 at 15:08 IST on BSE after the company said that its subsidiary set a price band for its upcoming public issue.
The announcement was made after market hours yesterday, 25 September 2017.Meanwhile, the S&P BSE Sensex was almost flat at 31,625.50.
On the BSE, 39,000 shares were traded in the counter so far, compared with average daily volumes of 40,000 shares in the past one quarter. The stock had hit a high of Rs 600 and a low of Rs 580.95 so far during the day.
Diversified agri-business company Godrej Agrovet, promoted by Godrej Industries, is coming up with an initial public offer aggregating upto Rs 291.51 crore and an offer for sale (OFS) by Godrej Industries aggregating upto Rs 300 crore and upto 1.23 crore equity shares by V-Sciences Investments.
The price band for the IPO has been fixed at Rs 450-460 per share. The IPO opens on 4 October and closes on 6 October 2017.
On consolidated basis, net profit of Godrej Industries declined 32.15% to Rs 75.75 crore on 3.03% rise in net sales to Rs 2116.19 crore in Q1 June 2017 over Q1 June 2016.
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Godrej Industries is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantation, real estate development, Oleo-chemicals and vegetable oils, both directly and through subsidiaries/associate companies.
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