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India’s Milk Addiction Makes Temasek-Backed Feedmaker Weigh IPO

  • Godrej Agrovet may be listed, group chairman says in interview
  • Deal would come as rising stock prices spur Indian IPO market
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Godrej Group Considering IPO of Agrovet Unit

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Billionaire Adi Godrej is considering an initial public offering of his group’s animal-feed unit, the largest producer in India, as business thrives in the biggest milk-drinking country in the world.

Godrej Agrovet Ltd. may be listed in the future, group Chairman Godrej said in a recent interview in Mumbai, without providing details on the timing or valuations. Agrovet, which made two acquisitions last year, is growing very rapidly and is open to more purchases domestically, he said.