The Adi/Nadir Godrej family, along with other family members/trusts, has made an open offer to the shareholders of Astec Lifesciences to acquire an additional 26 per cent stake from the public as part of the family settlement agreement (FSA), according to an announcement to the stock exchanges on Wednesday.
The offer, made at the price of ₹1,069.75 per share, was triggered by the Adi/Nadir family's plan to acquire a 20.84 per cent stake in Godrej Industries (GIL) from the Jamshyd Godrej/Smita Crishna Godrej family, according to the announced Tuesday.
FSA on The open offer, if fully accepted, will cost 545 crore to the Adi/Nadir family, the announcement said.
Rishad K Naoroji, another member of the promoter group of Godrej Industries, will retire from Anamudi Real Estates, a promoter entity, and only the Adi Godrej family will continue to be partners in Anamudi Retirals.
Anamudi holds a 0.57 per cent stake in GIL, which will be controlled by the Adi/Nadir Godrej family.
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