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Singapore's Temasek to invest $267 million in Godrej Industries' financial services arm

By Reuters News

Nov 12 (Reuters) - India's Godrej Industries GODI.NS on Thursday said Temasek Holdings will invest 25 billion rupees ($266.98 million) in Godrej Capital through its affiliate, valuing the financial services business at up to 280 billion rupees.

Godrej Industries will retain about 80% ownership following the deal.

Here are some details:

  • Temasek's investment in Godrej Capital marks another bet on India's financial services sector. The Singapore state investor also holds a stake in ICICI Bank ICBK.NS, the country's second-largest private-sector bank by market capitalisation.

  • The deal adds to a series of large transactions in India's financial services sector this year, including Fairfax Financial HoldingsFFH.TO picking up a 60.7% stake in IDBI BankIDBI.NS and Bank of America<BAC.N> entering a joint venture to buy 49.9% stake in Jio Credit, the lending arm of Jio Financial ServicesJIOF.NS

  • "Financial services represents a major long-term growth area of focus for our Group, and our ambition is to build Godrej Capital into a 1 trillion rupees AUM franchise by 2031," said Pirojsha Godrej, Chairperson, Godrej Industries Group.

  • Founded in 2020, Godrej Capital operates in over 100 cities and had assets under management of 350 billion rupees, as of October 31, 2026.

  • The company, through its subsidiaries, serves businesses and individuals across the country with home loans, loans against property, working capital loans, construction finance, and personal loans, among others.

  • The investment comes after Godrej Industries said it plans to list the financial services arm in the next five years.

($1 = 93.6400 Indian rupees)

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