Into the ` 1,00,000 crore league

Business Today - - THE BUZZ FOCUS - - Nevin John

AT THE END of last decade, the Go­drej Group an­nounced a plan to grow 10 times in 10 years ( 10X10). In the past seven years, the group has made a sig­nif­i­cant jump in val­u­a­tion of listed com­pa­nies. With the IPO and list­ing of Go­drej Agrovet on Oc­to­ber 16, the over­all mar­ket cap­i­tal­i­sa­tion of four group com­pa­nies – in­clud­ing Go­drej Con­sumer Prod­ucts (GCPL), Go­drej In­dus­tries and Go­drej Prop­er­ties – has ex­ceeded the ` 1 lakh crore, against ` 18,000 crore for three listed com­pa­nies in 2010. Go­drej Agrovet de­buted at a 35 per cent pre­mium to IPO price and is val­ued at over ` 10,000 crore. On Oc­to­ber 25, GCPL was val­ued at ` 62,800 crore. Be­tween Novem­ber and July, the share price of hold­ing com­pany Go­drej In­dus­tries surged 85 per cent to ` 679, but fell ` 100 in later trade. The real es­tate firm, Go­drej Prop­er­ties’ share price more than dou­bled from ` 300 last Novem­ber to ` 676.

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