Temasek’s arm offloads 1.40% stake in Godrej Agrovet

16 Sep 2024 , 11:23 AM

On Friday, Temasek Holdings’ V-Sciences Investments sold a 1.4% holding in Godrej Agrovet for around ₹212 Crore in an open market deal.

Temasek Holdings is Singapore’s state-owned global investment business. As of March 31, 2024, the investment company’s portfolio value was SGD 389 billion.

According to bulk deal data available on the National Stock Exchange (NSE), V-Sciences Investments sold 27.10 lakh shares of Godrej Agrovet, representing a 1.41% ownership.

The shares were sold for an average of ₹785.13 per, totalling ₹212.77 Crore. Following the equity sale, V-Sciences Investments’ stake in Godrej Agrovet fell from 7.77% to 6.36%.

The purchasers of Godrej Agrovet’s shares could not be identified.

In May 2022, Temasek sold 40 lakh shares in Godrej Agrovet for ₹197 Crore, reducing its ownership. In February 2020, the Singaporean global investment corporation sold shares for ₹204 Crore.

Godrej Agrovet Limited is a diversified, R&D-focused agri-business enterprise committed to increasing Indian farmers’ productivity via the development of goods and services that boost crop and livestock yields in a sustainable manner. It enjoys market leadership positions in the following businesses: animal feed, crop protection, oil palm, dairy and poultry, and processed foods.

At around 11.06 AM, Godrej Agrovet was trading 2.24% higher at ₹813.30, against the previous close of ₹795.45 on NSE. The counter touched an intraday high and low of ₹821, and ₹800.05, respectively.

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