The Godrej Group company had first acquired a stake in Astec in August 2015 and increased its holding later that year.
In a move to consolidate its Agrochemical business, Godrej Group has decided to merge its acquired listed entity into its listed holding company.
Astec Life sciences Limited
(Astec),established in 1994, Astec Life sciences Ltd manufactures a wide range of agrochemicals and pharmaceutical intermediates.Astec has two multipurpose production sites at Mahad. In August 2015, Godrej Agrovet acquired a majority stake in Astec. The equity shares of the company are listed on BSE and NSE.
Godrej Agrovet Limited
(Agrovet) is engaged is an agribusiness arm of Godrej Group with operations across five business verticals- animal feeds, crop protection, oil palm, dairy and poultry and processed foods. The equity shares of the company are listed on BSE and NSE.
The Transaction
In a move to consolidate its Agrochemical business, Godrej Group will merge Astec with the Agrovet. The appointed date for the transaction is 1 April 2019.
Swap Ratio
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