V-Sciences Investments Acquires Significant Stake in Godrej Agrovet
On September 13, V-Sciences Investments, a subsidiary of Singapore-based Temasek Holdings, made headlines with its acquisition of shares from agribusiness giant Godrej Agrovet. The transaction was valued at over ₹212 crore, marking a significant movement in the agricultural investment landscape. Temasek Holdings is renowned for its extensive portfolio, which reached a staggering SGD 389 billion as of March 31, 2024.
Details of the Transaction
According to the bulk deal data available from the National Stock Exchange (NSE), V-Sciences Investments sold approximately 2.71 million shares, which equates to a 1.41% stake in Godrej Agrovet. The shares were sold at an average price of ₹785.13 each, culminating in a total deal value of ₹212.77 crore. Following this sale, V-Sciences Investments’ ownership in Godrej Agrovet decreased from 7.77% to 6.36%.
Impressive Performance of Godrej Agrovet
Godrej Agrovet has demonstrated impressive growth, with its shares rising over 60% in value over the past six months. On the same day as the share sale, Godrej Agrovet’s shares closed at ₹796.30 on the Bombay Stock Exchange (BSE), reflecting an increase of nearly 2%. The company’s market capitalization stands at ₹15,300 crore, bolstered by strong promoter holdings, which account for 74.03% of the company’s shares as of June 2024.
Financial Insights
| Metric | Value |
|---|---|
| Revenue (Q1 2024) | ₹1,741.48 crore |
| Net Profit (Q1 2024) | ₹136.39 crore |
| 52-Week High | ₹877.85 (July 15, 2024) |
| 52-Week Low | ₹447 (October 26, 2023) |
Previous Stake Sales by Temasek
This latest transaction marks a continuation of Temasek’s strategic adjustments within Godrej Agrovet. In May 2022, Temasek sold 4 million shares, generating ₹197 crore in revenue. Furthermore, in February 2020, the firm offloaded shares worth ₹204 crore. These sales reflect an ongoing strategy of managing and recalibrating their investment in the agribusiness sector.
The Future for Godrej Agrovet
With a face value of ₹10 per share, Godrej Agrovet continues to attract investor interest, demonstrating resilience and growth potential in the competitive agribusiness landscape. As the market adapts and evolves, the company’s strong fundamentals and strategic maneuvers suggest a promising trajectory ahead.
