SREI Infra on Monday said the demerger will help to unlock the value of SREI Equipment for shareholders of Infra business.
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The demerger will help the company to list the equipment finance business, said Hemant Kanoria, chairman and managing director, SREI Infra Finance.
SREI Infra's board has approved demerger of SREI Equipment to SREI Asset. The remaining business undertakings of SREI Equipment will amalgamate into the SREI Infra.
”So by virtue of this action, which has been approved by the board, we will also have SREI Equipment listed and SREI Infra shareholders will have the shares of SREI Equipment," Kanoria said.
Moreover, about 22 percent of SREI Equipment will still be held by SREI Infra instead of the current 100 percent and the balance will be given to shareholders directly, said Kanoria.