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Godrej Industries Ltd’s board of directors has approved a plan to look for strategic partner(s) for Godrej Agrovet Ltd.
It has also okayed part sale of the company's investment in the subsidiary.
During 2011-12, Godrej Agrovet reported sales of Rs 2,439 crore. The company has exposure to animal feed, oil palm plantations, agri-inputs and poultry businesses.
Godrej Agrovet also has a joint venture with the ACI Group in Bangladesh. It has 45 manufacturing facilities across India, according to the company’s Web site.
Shares of Godrej Industries were trading at Rs 307.65 (face value Re 1), down by Rs 2.35, in the morning trade on the BSE.
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