Godrej Family Split: The 127-year-old Godrej family has now split into two. According to a statement issued after signing the agreement, Adi Godrej and his brother Nadir have got the rights to Godrej Industries.
Godrej Family Split
The 127-year-old Godrej family has now split into two. According to a statement issued after signing the agreement, Adi Godrej and his brother Nadir have got the rights to Godrej Industries. It has five listed companies. Adi Godrej’s cousins Jamshed and Smita will own the unlisted company Godrej & Boyce. Both of them will get a large plot and important property in Mumbai along with companies related to Godrej & Boyce.
According to a statement issued by the Godrej Enterprises group, the group has split into two branches of the founding family. On one side are Adi Godrej and his brother Nadir and on the other side are their cousins Jamshed Godrej and Smita Godrej Krishna.
#Godrej family announces a friendly ownership split after 5 years of negotiations. CNBC-TV18’s @PoddarNisha accesses exclusive details of the $20 bn Godrej family separation.
— CNBC-TV18 (@CNBCTV18News) May 4, 2024
The Godrej family has described the demerger process as a reorganization of shareholders’ ownership rights in the Godrej companies. Both groups will continue to use the Godrej brand, the statement said.
The Godrej Group was founded in 1897 by Ardeshir Godrej. He had a lock making business, before that he failed in his business of making medical instruments by hand. Ardeshir had no son. Hence his business was handed over to his brother Pirojsha Godrej.
Pirojsha Godrej had four children namely Sohrab, Dosa, Burjor and Naval. Years later, the group’s business fell into the hands of Burjor’s sons Adi and Nadir, as well as Naval’s son and daughter Jamshed and Smita. Sohrab was childless, while Dosa had a son, Rishad, who was childless. Now, after 127 years, the group’s business is being split.
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