 "Godrej Properties")
The Godrej group is untangling cross-holdings among group companies, with Godrej Capital, a subsidiary of Godrej Industries, buying a 95 per cent stake in Godrej Housing Finance for Rs 406 crore in cash. The shares have been acquired from Anamudi Real Estates LLP, a Godrej family investment firm.
Godrej Capital was earlier known as Pyxis Holdings and is currently operating as a financial institution and offers home loans and plot loans. The fair value of assets and liabilities acquired have been determined provisionally based on an independent valuation report. Goodwill of Rs 294.50 crore has been recognised, being excess of
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