Phillips Carbon Black (PCBL) has initiated a structural and investment recast through merger, de-merger and reduction in investment exposure in group firms.
The Rs 500-crore carbon black maker of RPG Enterprises has brought Transmission Holdings, one of the subsidiaries, under its umbrella while moving out two subsidiary firms South Asia Electricity Holdings and PCBL Industrial Finance.
It has also scaled down investments in group companies from Rs 37.52 crore to Rs 20.69 crore. The companies in which PCBL has either pulled out or reduced investments include Swan Mills, Duncan Brothers, Gramophone Company of India, CFL Capital Services, Harrison Malayalam, Spencer & Co., KEC International, RPG Transmission, CESC Ltd, RPG Cables, RPG Life Science, Sone Paper & Industries and RPG Communication Holdings. It increased its holdings in Ceat Ltd and maintained its stake in Norplex Oak India.
The merger and de-merger of subsidiaries was aimed at increasing the company
