Small BusinessPromoters ready to dilute stake for acquisition: Adi Godrej
Chairman of Godrej Industries Adi Godrej today said the company would dilute stake in case it finds a good acquisition opportunity.
- Sebi may amend rules on promoters" voting rights, warrant allotment - Sebi may amend norms on promoters" voting rights - 180 companies have promoters" stake of over 75% - Sebi nod to DC promoters to be exempted from open offer - 33 GHCL promoters relieved from charges by Sebi - B K Birla aims to raise holding in group cos
"The group, as of October, will have 75 per cent promoter holding. So clearly we could dilute if we have to for a good acquisition," Godrej told CNBC TV 18.
"Yes, we have looked at some possibilities. They are nowhere near finalisation but if some of them come about, then it is possible that we may dilute," he added.
On the planned IPO of the Group"s realty arm, Godrej Properties, Godrej said the company would be able to go in for the listing within 10 months.
"I hope it will be earlier... We have 10 months left, because the draft Red Herring pospectus was passed two month ago. I am reasonably sure, we will certainly do it within the 10 months. In fact, we would like to do it much earlier," Godrej added.