Forbes & Company, a Shapoorji Pallonji group firm on Tuesday announced plans to list its subsidiary Eureka Forbes to unlock value for shareholders. The company's board has authorised the management to evaluate any such scheme in this regard, Forbes & Company said in a regulatory filing. "The Board of Directors of the company has authorised the management...to evaluate a scheme of arrangement and/or other appropriate mechanisms to enable an eventual listing of Eureka Forbes with an intention to unlock value in the hands of all the shareholders of the company," it said. These may also include listing, dilution/sale or combination thereof of Eureka Forbes, it added. Eureka Forbes is a wholly-owned subsidiary of Forbes & Company. "The Board will consider the above (schemes) 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," it said. It operates in water purifier, air ...
Shapoorji Pallonji Real Estate is developing projects in Mumbai, Thane and Bengaluru
Plans to build homes in the Rs 10 lakh to Rs 20 lakh category on the peripheries of large and tier II cities
The Ahmedabad bench of NCLT had in June approved a resolution plan for Korba West Power which gave Shapoorji Pallonji which had constructed the Korba West Power plant, 'nil' amount
Tycoon Mistry Plans Asset Sales to Cut $558 Million Debt
The $7-billion conglomerate, best-known for real estate and infrastructure, has growing global solar aspirations
The Group's executives visited the gram panchayats of Gandamunda Bhoi and Bila Bhoi under Puri Sadar block and distributed relief materials among the affected families
The partners will raise the fund in two tranches of $600 million each
The port was dedicated to the nation by chief minister Naveen Patnaik Thursday
Strategically located between Paradip port in the north and Vizag port in the south, Gopalpur is expected to create a strategic shift in cargo movement pattern on the east coast
154-year-old Shapoorji Pallonji group is in process of divesting more assets
Shapoorji has launched housing projects at Virar near Mumbai, Howrah near Kolkata and Hinjewadi in Pune
SP Group is a $5-bn conglomerate with businesses across 40 countries
The port has one multi purpose berth with a capacity to handle 3.5 mtpa of bulk cargo
Shapoor P Mistry's son Pallon S Mistry joins business