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Godrej to list consumer goods firm in June

The Godrej group, one of India's oldest conglomerates, plans to list its new consumer products company in June, a company said on Monday.

The new company, created out of the consumer products division of Godrej Soaps Ltd, began operating on Sunday.

"We expect a listing on the Bombay Stock Exchange and the National Stock Exchange in the second week of June," said Sunil Sapre, company secretary, Godrej Consumer Products Ltd.

Godrej Consumer will focus on soaps, detergents and toiletries. The rest of the businesses that constituted Godrej Soaps - chemicals, medical diagnostics and investments - are now part of a company called Godrej Industries.

Godrej group Chairman Adi Godrej said in January that he expected Godrej Consumer to notch up sales of Rs 6 billion, and Godrej Industries sales of Rs 4.5 billion, in the current April-March year.

Shares of Godrej Soaps, renamed Godrej Industries from Sunday, fell 1.3 per cent on Monday to Rs 60. The benchmark Bombay Stock Exchange index slid 1.06 per cent.

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