Industrialist Adi Godrej has said that the company may soon offer an initial public offering (IPO) of its agri-business subsidiary Godrej Agrovet to cash in on India's obsession for milk.
Agrovet Limited is a diversified, research & development agri-business company, which is a leading market player in the different businesses in which they operate - animal feed, oil palm plantations, agri inputs, hybrid seeds, dairy and processed poultry.
As per reports, the company, if listed, will also profit from the stock of Temasek as the company holds 20 per cent stake in the Agrovet. Another stock to receive good response would be Godrej Industries as Agrovet contributes as much as 20 per cent to its enterprise value.
As per reports, Godrej Agrovet will contest with Parag Milk Foods, which recently launched an IPO to raise Rs 300 crore.