GODREJIND

MUMBAI, Sept 18 (Reuters) - India's Godrej Industries GODI.NS has accepted bids worth 8 billion rupees ($91.13 million), for separately transferable redeemable principal part bonds maturing in five years and six months, three bankers said on Thursday.

The company will pay an annual coupon of 7.89% and had invited bids for the issue earlier in the day, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 18:

* Size includes base plus greenshoe for some issues

($1 = 88.1275 Indian rupees)

(Reporting by Dharamraj Dhutia)

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MUMBAI, Sept 17 (Reuters) - India's Godrej Industries GODI.NS plans to raise as much as 8 billion rupees ($91.13 million), which includes a greenshoe option of 2.5 billion rupees, through the sale of bonds maturing in five years and five months, three bankers said on Wednesday.

It has invited coupon and commitment bids for the issue on Thursday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 17:

* Size includes base plus greenshoe for some issues

($1 = 87.7830 Indian rupees)

(Reporting by Dharamraj Dhutia, Khushi Malhotra; Editing by Janane Venkatraman)

(([email protected], [email protected]))

NEW DELHI, Sept 4 (Reuters) - Indian Finance Minister Nirmala Sitharaman unveiled tax cuts for hundreds of consumer items, from soap to cars, in the biggest overhaul of the goods and services tax (GST), set to take effect from September 22.

Here are key highlights:

MAJOR CHANGES

India will have two key tax rates of 5% and 18% from September 22, versus four now. A new tax slab of 40% will apply to high-end goods, but all additional levies above that are to be abolished, bringing down effective tax rates on mid-size and big cars.

REVENUE LOSS, INFLATION IMPACT

The government estimates the cuts will cause revenue loss of 480 billion rupees ($5.5 billion), far lower than economists' estimate ranging from 1 trillion rupees to 1.8 trillion rupees.

Citi said India's inflation could ease as much as 1.1 percentage points if the cuts are fully passed through to consumers. India's retail inflation rate fell in July to its lowest in eight years.

TAX CUTS ON DAILY ITEMS

A tax panel approved lower GST of 5% on items of everyday use such as packaged food, medicines, toothpaste, fruit, milk products, talcum powder and shampoo, against 12% to 18% now.

The cut is expected to lift the sales of fast-moving consumer goods firms such as Hindustan Unilever HLL.NS, Nestle NEST.NS and Godrej Industries GODI.NS, while lowering costs for farmers.

It will abolish tax on individual life and health insurance products sold by companies such as LIC LIFI.NS, SBI Life Insurance SBIL.NS and ICICI Prudential Life Insurance ICIR.NS.

HOLIDAY BOOST TO SALES

The government has cut taxes on items such as cars, TVs and even cement, which could boost sales during the festival season that typically runs from the last week of September until November. India's tax panel also cut GST on air conditioners, ambulances, dishwashers, three-wheelers and hybrid vehicles.

Carmakers such as Maruti MRTI.NS and Toyota 7203.T, and manufacturers of consumer applicance such as LG Electronics LGEL.NS and Sony 6758.T are set to benefit immediately when the new rates kick in.

The tax panel also lowered the effective tax for big cars to 40% from the current rate of as much as 50%, making cars from Mercedes-Benz AGMBGn.DE, AUDI Aktiengesellschaft and BMW BMWG.DE attractive. GST on EVs was kept at 5%, giving relief to carmakers such as Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS after a panel recommended an increase.

The government lowered taxes on fertiliser and tractors to help lower costs for farmers, recently come in the spotlight as Prime Minister Narendra Modi vowed to protect them following a breakdown in India-U.S. trade talks.

MAIN LOSERS

GST was raised to 18% from 12% on apparel and clothing accessories that cost more than 2,500 rupees, which could hurt global brands such as Marks and Spencer MKS.L, Levi Strauss LEVI.N, and Zara.

The tax on coal went to 18% from 5%, but the effective tax rate on fizzy drinks make by PepsiCo PEP.O and Coca-Cola KO.N was held at 40%.

($1=87.5060 Indian rupees)

(Reporting by Aftab Ahmed; Editing by Clarence Fernandez)

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NEW DELHI, Sept 3 (Reuters) - India has decided to cut taxes on hundreds of consumer items ranging from soaps to small cars to spur domestic demand in the face of economic headwinds from U.S. tariffs, two state ministers told reporters on Wednesday.

The new goods and services tax (GST), which will become effective from September 22, will lead to an estimated revenue loss of 477 billion rupees, West Bengal minister Chandrima Bhattacharya said after the GST council meeting.

(Reporting by Nikunj Ohri; Editing by YP Rajesh)

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Aug 13 (Reuters) - Godrej Industries Ltd GODI.NS:

• APPROVES DIVESTMENT OF STAKE IN GODREJ CAPITAL

• DIVESTMENT FOR UP TO 50 BILLION RUPEES

Source text: ID:nNSE6QdCJk

Further company coverage: GODI.NS

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By Dharamraj Dhutia

MUMBAI, Aug 4 (Reuters) - Godrej Properties GODR.NS, the real estate unit of India's Godrej Industries GODI.NS, is set to tap the corporate bond market later this month with its largest issue to date, three sources aware of the matter said.

The real estate developer is likely to raise around 20 billion rupees ($230 million) through the sale of shorter duration bonds, with a maturity of three to five years, the sources said last week.

"The company could look to tap the market after the central bank's monetary policy decision this week, in the hope that yields ease further," one of the sources said.

All the sources requested anonymity as the talks are private. Godrej Properties did not reply to a Reuters email seeking comment.

The bonds are rated 'AA+', and this will be the company's first bond issuance in nearly a year.

Last September, it had raised around 650 million rupees through the sale of five-year bonds at an annual coupon of 8.50%.

Godrej Properties has borrowed 25 billion rupees through bonds since September 2023. The upcoming sale would take its outstanding issuances to 45 billion rupees.

The Mumbai-based firm last month acquired around 50 acres of land for premium plotted residential units in the Indian state of Chhattisgarh.

($1 = 87.2300 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

(([email protected];))

** Shares of Godrej Industries GODI.NS surge 15.8% to a record high of 1,377.8 rupees

** About 514,915 shares changes hands in one block deal priced at 1,376 rupees apiece - as per data compiled by LSEG

** Block deal at 16% premium on last closing price of 1,190.5 rupees

** Overall 2.9 million shares traded, volumes at 12.5x the 30-day avg

** Stock up 18% year-to-date

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

MUMBAI, May 2 (Reuters) - India's Godrej Industries GODI.NS has accepted bids worth 10 billion rupees ($118.4 million) for the sale of bonds maturing in four years and five years, three bankers said on Friday.

The company will pay an annual coupon of 7.54% on the four-year papers and 7.59% on the five-year bonds and had invited coupon and commitment bids earlier in the day, the bankers said.

Godrej Industries did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on May 2:

*Size includes base plus greenshoe for some issues

($1 = 84.4440 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)

(([email protected]))

MUMBAI, April 30 (Reuters) - India's Godrej Industries GODI.NS plans to raise 10 billion rupees ($117.32 million), including a greenshoe option of 5 billion rupees, through the sale of bonds maturing in four years and five years, three bankers said on Wednesday.

The company has invited coupon and commitment bids from bankers and investors for the issues on Friday, they said.

Godrej Industries did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 30:

*Size includes base plus greenshoe for some issues

($1 = 85.2370 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

(([email protected]))

MUMBAI, Feb 27 (Reuters) - India's Godrej Housing Finance plans to raise 5 billion rupees ($57.41 million), including a greenshoe option of 2.50 billion rupees, through the sale of bonds maturing in five years, three bankers said on Thursday.

It will pay an annual coupon of 8.17% on this issue and has invited bids from bankers and investors for the issue on Friday, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on February 27:

*Size includes base plus greenshoe for some issues

($1 = 87.1000 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

(([email protected]))

** Shares of Godrej Industries GODI.NS rise 17.4% to 1,011.15 rupees, set to gain for fourth straight session

** Trading vols jump over 24x the 30-day average to 4.5 mln shares, highest since October 9, 2023

** Reuters could not immediately ascertain the reason behind day's move

** Stock set to log best gains in a session since October 6, 2023, when it surged 19.6%

** GODI gained 56.7% in 2024

(Reporting by Vijay Malkar)

(([email protected];))

** Shares of Godrej Industries GODI.NS rise 4.8% to 852 rupees

** Co posted a 77% rise in Q3 consol net profit to 1.88 billion rupees ($21.7 million); rev from ops up 34% Y/Y

** Co aided by over two-fold surge in rev from its estate and property development segment, which contributes 24% to the total rev

** More than 1.8 million shares change hands, 20.3x its 30-day avg; set for most active session since September 6

** Stock on track to snap four-day losing streak

($1 = 86.8520 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Feb 12 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES DEC-QUARTER CONSOL NET PROFIT 1.88 BILLION RUPEES

• GODREJ INDUSTRIES DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 48.25 BILLION RUPEES

• GODREJ INDUSTRIES - TO INVEST UPTO 5 BILLION RUPEES IN GODREJ CAPITAL

Source text: [ID:]

Further company coverage: GODI.NS

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By Divya Chowdhury and Praveen Paramasivam

DAVOS, Switzerland, Jan 20 (Reuters) - India's economic slowdown is not expected to show up in the country's housing market, Godrej Industries Group Chairperson Nadir Godrej said in an interview on Monday.

Godrej, an Indian conglomerate which mainly targets the "middle category" of India's housing sector, is keeping a close watch on its debt given the cyclical nature of the business and is hopeful of riding out a potential down cycle, he added.

India forecast its slowest economic growth in four years for the year ending March, weeks after the country's central bank lowered its growth outlook for the next financial year.

Middle class Indians in the country's major cities are already cutting spending due to persistent inflation.

A slowdown is not evident in the housing sector, which struggles during downturns, and nor is one imminent, Godrej told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.

A Reuters poll published last month forecast house prices in India will rise steadily over the coming years, driven mainly by demand from wealthy individuals. But rising inflation will make owning a property unattainable for most.

Godrej's group, which has annual revenue of more than $6 billion, includes Godrej Properties GODR.NS as well as animal feed and vegetable oil manufacturer Godrej Agrovet GODE.NS and Cinthol soapmaker Godrej Consumer Products GOCP.NS.

Godrej said India's rural economy is improving due to an increase in consumption in villages.

(Join GMF, a chat room hosted on LSEG Messenger, for live interviews: https://lseg.group/4ajdDTy)

(Reporting by Divya Chowdhury in Davos and Praveen Paramasivam in Chennai; Editing by Alexander Smith)

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Dec 12 (Reuters) - Godrej Industries Ltd GODI.NS:

• ACQUIRES 26% STAKE IN CLEAN MAX KAZE

Source text: ID:nNSEbf48dw

Further company coverage: GODI.NS

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MUMBAI, Nov 18 (Reuters) - India's Godrej Industries GODI.NS plans to raise 10 billion rupees ($118.44 million), which will include a greenshoe option of 5 billion rupees through sale of bonds maturing in three years and six months and in five years, three bankers said on Monday.

The company has invited bids from bankers and investors for the issue on Tuesday, they said.

The company did not immediately respond to a Reuters query seeking comment.

Here is the list of deals reported so far on Nov. 18:

* Size includes base plus greenshoe for some issues

($1 = 84.4340 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

(([email protected]))

Nov 13 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES SEPT-QUARTER CONSOL NET PROFIT 2.88 BILLION RUPEES

• GODREJ INDUSTRIES SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 48.05 BILLION RUPEES

Source text: ID:nBSE6CCWCZ

Further company coverage: GODI.NS

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Nov 12 (Reuters) - Godrej Industries Ltd GODI.NS:

• SIGNS AGREEMENT TO ACQUIRE BUSINESS OF SAVANNAH SURFACTANTS

• SIGNS AGREEMENT TO ACQUIRE FOOD ADDITIVES AND EMULSIFIER BUSINESS

• ESTIMATED INVESTMENT AMOUNT 760 MILLION RUPEES

Source text: ID:nBSE8k9t95

Further company coverage: GODI.NS

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** Shares of Mumbai-based conglomerate Godrej Industries GODI.NS rise as much as 4.5% to 939.88 rupees

** GODI's June quarter profit more than doubles Y/Y; revenue up 7.5% Y/Y

** Stock set for a third straight session of gains, if trend continues

** Stock rose 23% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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Aug 7 (Reuters) - Godrej Industries Ltd GODI.NS:

• APPROVAL FOR RAISING OF FUNDS UP TO 30 BILLION RUPEES

Source text for Eikon: ID:nBSE2lTgVS

Further company coverage: GODI.NS

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BENGALURU, August 1 (Reuters) - India's Godrej Agrovet GODE.NS reported a 28.3% rise in first-quarter profit on Thursday, helped by falling input costs.

Consolidated net profit rose to 1.35 billion rupees ($16.1 million) for the three months ended June 30 from 1.05 billion rupees a year earlier.

During the quarter, which saw parts of the country experiencing heatwaves and floods, prices of food, which account for nearly half of India's retail inflation, rose more than 8% each month, adding pressure on the spending power of the rural consumers.

Godrej Agrovet's total revenue from operations fell 6.4% to 23.51 billion rupees while total expenses fell nearly 8%, led by a fall in the cost of materials consumed.

The animal feed business, which includes cattle and fish feed and forms nearly half of the company's revenue, fell 10%.

Revenue from crop protection and poultry and processed food businesses declined 4.6% and 24.5%, respectively, while dairy and vegetable oil saw a slight uptick.

As part of its expansion plans, Godrej Agrovet will set up a new feed plant in Maharashtra state with an initial investment of 1.10 billion rupees.

Its shares ended 3.9% lower.

($1 = 83.7070 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected]; +91 7982114624;))

June 26 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES - GETS LETTER JOINTLY FROM PROMOTERS THAT REALIGNMENT PURSUANT TO FAMILY SETTLEMENT AGREEMENT EXPECTED TO BE COMPLETED IN JULY

Source text for Eikon: [ID:]

Further company coverage: GODI.NS

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MUMBAI, June 25 (Reuters) - India's Tata Power Renewable Energy, a subsidiary of Tata Power Co TTPW.NS, has accepted bids aggregating to 7 billion rupees ($83.92 million) for bonds maturing in five years and 10 years, respectively, three bankers said on Tuesday.

The issuer will pay a coupon of 7.93% on both the bond issues and had invited bids for the same earlier in the day.

Here is the list of deals reported so far on June 25:

*Size includes base plus greenshoe for some issues

($1 = 83.4090 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sohini Goswami)

(([email protected]))

June 21 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES - APPROVED KEY INFORMATION DOCUMENT (KID) FOR ISSUANCE OF NON-CONVERTIBLE DEBENTURES

• GODREJ INDUSTRIES LTD - ISSUANCE OF NON-CONVERTIBLE DEBENTURES AGGREGATING UP TO 5 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: GODI.NS

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MUMBAI, June 20 (Reuters) - India's Godrej Industries GODI.NS plans to raise up to 5 billion rupees ($59.8 million), including a greenshoe of 2.5 billion rupees, through bonds maturing in three years and six months, two bankers said on Thursday.

The company will pay a coupon of 8.42% on these bonds and is likely to invite bids for the issue next week.

In February, Godrej Industries had raised 10 billion rupees via bonds maturing in two years and six months, and another in three years and six months.

Here is the list of deals reported so far on June 20:

*Size includes base plus greenshoe for some issues

($1 = 83.5982 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Savio D'Souza)

(([email protected]))

** Shares of most Godrej group companies fall after conglomerate announces restructuring

** Godrej Properties GODR.NS and Godrej Industries GODI.NS drop 6% and 7.2%, respectively

** GODR top loser in Nifty Realty .NIFTYREAL and among top losers in mid-cap index .NIFMDCP100; GODI among top losers in Nifty 500 .NIFTY500

** Astec Lifesciences ASTE.NS sheds ~3%, while Godrej Consumer Products GOCP.NS and Godrej Agrovet GODE.NS up 0.5% and 3% respectively

** Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities - Godrej Enterprises Group and Godrej Industries Group

** "Restructuring rules out any potential option value that could have emerged from the Vikhroli land (in Mumbai) for Godrej Properties," says CLSA, reiterating a "sell" recommendation on rich valuations

** Godrej Industries Group operates via listed companies including Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences

(Reporting by Bharath Rajeswaran and Hritam Mukherjee in Bengaluru)

(([email protected];))

Corrects to "agrees" from "agree" in headline

BENGALURU, May 1 (Reuters) - India's Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries, according to a filing late on Tuesday.

The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the Godrej brand, it added.

Godrej Enterprises Group (GEG) will be headed by 75-year-old Jamshyd Godrej as chairperson and managing director and his niece Nyrika Holkar as executive director.

GEG operates across aerospace, aviation, defence and liquid engines among others.

Jamshyd Godrej was earlier serving as managing director and chairman of Godrej & Boyce, the privately held company, founded in 1897.

Nadir Godrej, 73, will serve as chairperson of Godrej Industries Group (GIG), which operates via listed companies including Godrej Industries GODI.NS, Godrej Consumer Products GOCP.NS, Godrej Properties GODR.NS, Godrej Agrovet GODE.NS and Astec Lifesciences ASTE.NS. GIG will be controlled by Nadir's brother Adi Godrej and their immediate family.

82-year-old Adi Godrej stepped down as chairman of Godrej Industries in August 2021, handing over the reign to his brother, Nadir Godrej.

Adi Godrej's son Pirojsha Godrej will be named chairperson of GIG, succeeding Nadir Godrej in August 2026.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Eileen Soreng)

(([email protected];))

** Shares of Godrej Agrovet Ltd GODE.NS fall as much as 5.3% to 506.15 rupees

** Animal feed maker says unit got assessment order from Commercial Taxes Department with penalty of 58.1 mln rupees ($696,387.18)

** Adds, co proposes to challenge the order before the higher courts/authorities

** Stock on track to lose for 4th straight day

** More than 134,000 shares traded as of 1:45 p.m. IST, busiest day yet since April 4

** Mean rating of 7 brokerages rating the stock is "Buy"; median PT is 570 rupees - LSEG data

** GODE last down 2.9%, adding to YTD losses of ~7%

($1 = 83.4306 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

Feb 29 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES LTD - MADE FURTHER INVESTMENT IN UNIT GODREJ CAPITAL LIMITED

• GODREJ INDUSTRIES LTD - CO NOW HOLDS 89.48% OF TOTAL PAID UP SHARE CAPITAL OF GODREJ CAPITAL

• GODREJ INDUSTRIES LTD - FURTHER ACQUISITION OF SHARES OF GODREJ CAPITAL FOR A TOTAL CONSIDERATION OF 2.85 BILLION RUPEES

Source text for Eikon: ID:nBSE9HftN1

Further company coverage: GODI.NS

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MUMBAI, Feb 28 (Reuters) - India's Godrej Industries GODI.NS has accepted bids worth 10 billion rupees ($120.7 million) for bonds maturing in two years and six months, and another in three years and six months, three bankers said on Wednesday.

The company will pay an annual coupon of 8.36% and 8.40% to investors of this issue, and had invited bids on Tuesday, they said.

In September, Godrej Industries raised 4 billion rupees through bonds maturing in three years and five months at a coupon of 8.29%.

Here is the list of deals reported so far on Feb. 28:

* Size includes base plus greenshoe for some issues

($1 = 82.8820 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

(([email protected]))