Business

Shapoorji Pallonji mulls stake sale in Eureka Forbes

Updated : November 19, 2019 12:51 PM IST

Forbes & Company Ltd., a subsidiary of Shapoorji Pallonji and Company Pvt Ltd., said that it plans to unlock value of subsidiary Eureka Forbes

Plan may include listing, dilution/sale or combination thereof of Eureka Forbes

Shapoorji Pallonji mulls stake sale in Eureka Forbes

Forbes & Company Ltd., a subsidiary of Shapoorji Pallonji and Company Pvt Ltd, Tuesday said that it plans to unlock value of subsidiary Eureka Forbes Ltd that may include listing, dilution/sale or combination thereof of Eureka Forbes.

In a regulatory filing, the company announced that its Board has authorised the management of the Company to evaluate a scheme of arrangement and other appropriate mechanisms to enable an eventual listing of Eureka Forbes.

Eureka Forbes' product portfolio comprises of vacuum cleaners, water purifiers, air purifiers and home security solutions.

"The Board will consider the above when the relevant proposals are placed before it in the near future, but in principle has approved supporting the endeavours of the management in this regard," the company added.

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