Generic drugmaker Natco Pharma is considering spinning off its agro business, a move for which it got an in-principle approval from the board on Thursday. The board of directors has given in-principle approval to evaluate the demerger of the agro business of the into a separate entity. The management is of the opinion that the … Read more
New Delhi: Vedanta Resources CEO Deshnee Naidoo showed optimism that demerger of its Indian arm Vedanta will be completed in current fiscal and stressed that her focus now is on restructuring of company.NCLT on Wednesday will hear Vedanta’s proposed demerger of business verticals. agencies Source link
Board has in-principally approved to separate the Ice Cream business into a separate listed entity. Ice Cream business includes brands such as “Kwality Wall’s”, “Cornetto” and “Magnum” Decision is not final and is subject to the further evaluation and steps required as per the law. Final proposal for approval will be put in front of … Read more
Raymond Limited (RL) has announced the vertical demerger of its Real Estate (RE) Business. RE business will be first demerged into its wholly owned subsidiary, Raymond Realty Limited (RRL). Upon completion of this demerger, Raymond Ltd and Raymond Realty Limited (RRL) will operate as separate listed entities within the Raymond Group post all statutory approvals. … Read more
Quess is separating it’s entire business into three independent entities. Quess Corp Ltd (Current Company): focusing on the core business of Workforce Management Digitide Solutions Ltd (New Company 1): BPM solutions, Insurtech and HRO business For FY23, this segment accounted for 14.49% of the total consolidated revenues of Quess Bluspring Enterprises Ltd (New Company 2): … Read more
It was long awaited and finally ITC‘s board has taken the decision to demerge the hotels business into a new entity. Name of the new entity is proposed to be “ITC Hotels Limited (IHL)” In such kind of demergers, normally existing shareholding of the main Company gets replicated in the new entity i.e., 1:1 share … Read more
Restructuring/ consolidation continues at Raymonds. It has taken further key decisions – 1. The associate Company, Raymond Consumer Care Limited (RCCL), sells FMCG business to Godrej Consumer Products (GCPL). The divested business include condom brands KamaSutra and Premium and deodorant brands Park Avenue and DS. Raymond’s condom plant in Aurangabad, Maharashtra, will continue to do the … Read more
Alongside Q2 FY 23 results, Reliance Industries Limited (RIL) has announced demerger and listing of a subsidiary, Reliance Strategic Investments Limited (RSIL) to focus on the financial services segment. RSIL is currently a wholly-owned subsidiary of RIL and is a RBI-registered non-Deposit taking Systemically Important (ND-SI) Non-Banking Financial Company (NBFC). RIL will demerge it’s financial … Read more
A board decision has been taken to look for the best possibilities and parallely a wholly owned subsidiary to be created to provide a ready vehicle for restructuring. Key points to note – Bajaj Electrical (BE) is present in two segments Consumer Products (CP) – appliances, fans, consumer lighting Engineering Procurement and Construction (EPC) – … Read more