Board of Godrej Industries approves diversification into housing finance and NBFC companies

At assembly held on 12 February 2021

Godrej Industries introduced that Godrej Housing Finance (GHFL), an organization owned by the Godrej Household by means of Anamudi Actual Estates LLP (Anamudi), has just lately obtained a license to function as a Housing
Finance Firm. To pursue the chance in housing finance enterprise, the Board of Godrej Industries at its assembly held on 12 February 2021 has permitted the proposal of buying shares of GHFL from Anamudi, topic to the approval of the Reserve Financial institution of India.

Conserving in thoughts the industrial and regulatory issues, it’s also proposed that a part of the
non-retail lending alternatives might be pursued by means of one other subsidiary of the Firm,
i.e., Ensemble Holdings and Finance (EHFL), a non-banking finance firm registered
with the Reserve Financial institution of India.

From structuring flexibility and worth consolidation perspective, it’s proposed that GHFL and EHFL
could be held by means of an middleman subsidiary of the Firm. It’s proposed to accumulate the
shares of Pyxis Holdings (Pyxis) from Anamudi.

Accordingly, the Board has permitted buying 95% stake in Godrej Housing Finance
by means of a subsidiary of the Firm, i.e., Pyxis, topic to the approval of the Reserve Financial institution of India. The Board has permitted the acquisition of and additional funding in Pyxis. The Funding
in Pyxis is topic to approval of the Shareholders of the Firm. Pyxis will purchase shares of
GHFL and EHFL topic to the approval of the Reserve financial institution of India.

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(This story has not been edited by Enterprise Commonplace employees and is auto-generated from a syndicated feed.)

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