According to a report by India Infoline, Surya Roshni has indicated that it plans to separate its two business verticals – Lighting and Consumer Durables and Steel Pipes & Strips, in a recent BSE filing. As the two businesses are not inter-related and have different business dynamics, the company has indicated its business re-organisation committee to come up with alternative strategies of re-organisation or demerger of its two business verticals.
The talks of de-merger of its Lighting and Consumer Durables business have been going on since almost a year or two. According to earlier media reports private equity firms – Warburg Pincus and Bain Capital were interested in buying its lighting business. Another strong contender in line was Crompton Greaves Consumer Electricals.
Surya Roshni Ltd is currently trading at INR 492.25, down by INR 5.1 or 1.03% from its previous closing of INR 497.35 on the BSE.
(Source: www.indiainfoline.com)
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