Godrej Industries Limited informs that upon recommendation of the Audit Committee, the Board of Directors of the Company, at its Meeting inter alia has granted its approval for sale/transfer/ disposal of / divestment of its 100% stake held in Natures Basket Limited, a Wholly Owned Subsidiary of the Company, subject to the approval of the Shareholders of the Company. 

The Share Purchase Agreement has been executed between Godrej Industries Limited (the Seller), Natures Basket Limited (the Company) and Spencer's Retail Limited (the Purchaser) for approving the sale/transfer/ disposal/divestment of 100% stake held by the Seller in the Company to the Purchaser (SPA), subject to the approval of the Shareholders, completion of certain conditions precedent and other requisite approvals from statutory and regulatory authorities, if any.