Godrej Group looking to exit Geometric: Sources

Godrej Group may be looking to exit Geometric . The group has appointed bankers to invite expression of interest from prospective buyers, reports CNBC-TV18's Kritika Saxena, quoting sources.

Godrej is looking to exit non-core assets. The bankers have had conversations with a few private equity players and a couple of foreign IT (information technology) players.

Also read: Godrej to engage 1 mn people to shapre India by 2022

The total promoter shareholding in Geometric is around 37 percent. A majority of 29 percent is held by the Godrej Group. It will, hence, trigger a mandatory open offer.

As and when the deal goes through the Godrej group will want a complete exit, while Geometrics will continue to serve the IT and the software business.

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