The Board of Anant Raj Ltd (ARL), has approved the demeger.
- ARL will first consolidate all its data centre and cloud operations under one entity before carving them out into Ashok Cloud Pvt. Ltd (ACPL), a dedicated digital infrastructure and cloud services company that will be listed independently.
- Shareholders of ARL will receive one fully paid-up equity share of face value of ₹2 each in ACPL for every one fully paid-up equity share of face value of ₹2 each held in ARL.
The scheme clearly aims to capitalise upon the ongoing AI/ Date Center theme.
Conceptually though, it makes perfect sense as dynamics of two businesses are completely different.