Godrej Agrovet raises stake in Maxximilk

Godrej Agrovet Ltd, the agribusiness subsidiary of Godrej Industries Ltd, has increased its shareholding in Israeli biotech firm Maxximilk Pvt. Ltd. The company, as per a Bombay Stock Exchange filing, has bought an additional 10.91 per cent stake in the company, thus taking its shareholding to 62.97 per cent. Godrej Agrovet had picked up a majority stake in the company in January 2018. Post the transaction, the company became its subsidiary and was renamed as Godrej Maxximilk Pvt. Ltd. Maxximilk specialises in in-vitro production of high-quality embryos that aid dairy farmers produce top-quality milk, thus increasing their yield by a significant proportion. The company claims that its embryos are genetically predisposed to withstand hot weather conditions. Originally established in central Israel in 2008, Maxximilk shifted gears and opened a production facility in Maharashtra in August 2017, after signing a partnership agreement with Godrej Agrovet Ltd. Godrej Agrovet, which made its public market debut in October 2017, is a diversified, research- and development-focused agri-business of the 120-year-old Godrej Group.