Rossell India Ltd has begun the process of demerging its tea and aerospace divisions into separate companies in order to pursue growth opportunities in the two different lines of business.
Following a mirror-image split, which could take at least a year to become effective, the aerospace division of Rossell, which is listed on the BSE and NSE, will be vested in a newly floated vehicle named Rossell Techsys Ltd.
Shareholders of Rossell India will receive one share of the new company, which will also be listed on the NSE and BSE, for every share held in the present company.
The company’s promoters, the family of Harsh Mohan Gupta, hold a 74.8% stake. The demerger is intended to enhance efficiency by having different business interests in separate corporate entities, resulting in operational synergies, simplification, focused management, streamlining and optimization of the group structure, and efficient administration.
BUSINESS Rossell India Ltd tea tea and aerospace
Last modified: January 20, 2023
