look news india
Reclusive and preferring to remain isolated from the outside world, billionaire Godrej family member Rishad Kaikhushru Navrozi has decided to gift majority shares of the group company to his nephews and nieces, sources have revealed. Event. If this happens, it will be the first case of an Indian corporate giant giving away his assets to his relatives. Rishad Godrej, 72, is the grandson of Godrej Group founder and cousin of Adi-Nadir Godrej and Jamshed-Smita Godrej. He holds stake in four of the five listed companies of Godrej Group. On May 1, 2024, the value of his stake in these four companies – Godrej Agrovet, Godrej Consumer, Godrej Properties and Godrej Industries – will be Rs. 7,050 crores. He also has stakes in unlisted companies of the group.
According to sources, as per the current division of assets between the two groups of Adi-Nadir Godrej and Jamshed-Smita Godrej, in whose name will the shares owned by Rishad be transferred to the group companies to which these companies have come? Family members of the group. Rishad has always been far from playing an active role in the business of the Godrej Group and is the youngest among the third generation heirs of the group. He was the only child of his parents and had no direct heir. He is known for his love for birds and has dedicated his life to protecting birds. He has also written books on birds and founded an institute.