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Four months after the amicable split in the over century old conglomerate, Jamshyd Godrej-led Godrej Enterprises Group (GEG) on Thursday unveiled a new identity and announced plans to invest Rs 7,500 crore across businesses in the next three years. GEG, which is into manufacturing locks, refrigerators and interior products along with carrying out engineering and infra projects, will be the new brand identity and Godrej & Boyce will continue to act as the holding company, Jamshyd Godrej told reporters here. In June, the family announced the rare amicable settlement of asset ownership under which assets were split between Jamshyd and his cousins Adi and Nadir, who will steer the consumer products and agrovet businesses. Jamshyd Godrej said nothing changes for consumers because of the split, which is termed as "realignment", and added that the company has also identified new areas of growth. He specified that green hydrogen, energy storage and recycled construction materials will be .
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Shares of Godrej Group companies rallied up to 9 per cent in Thursday's trading session after the Group announced a split in the 127-year old family business.
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In the statement, the Godrej family termed the split as 'an ownership realignment' of the shareholdings in the Godrej companies
Realty firm Godrej Properties on Tuesday said that Jamshyd Godrej has resigned as the non-executive director with effect from January 24, having attained the age of 75 years. The effective date of resignation is January 24. In a regulatory filing, Godrej Properties informed that "Jamshyd Godrej, Non- Executive Non-Independent Director of the company has tendered his resignation from directorship of the company, having attained the age of 75 years, with effect from January 24, 2024". The Board of Directors of the company have taken note of resignation of directorship of Jamshyd Godrej, who is member of the Godrej family. "The Board of Directors places on record its appreciation for the valuable contribution, guidance and support provided by him during his association of over 33 years as the 'Director' of the company," the filing said. He has been serving as the director of the company since April 25, 1990. Mumbai-based Godrej Properties is one of the leading real estate developers
Godrej Agrovet, Godrej Industries, Godrej Properties can potentially rally up to 10% from current levels, while Astec Life and Godrej Consumer Products can fall up to 17%, suggest charts.
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Godrej & Boyce had entered into a tie-up with Sure Chill last year which saw it offering solutions in medical refrigeration with technology support from Sure Chill