EID Parry to de-merge subsidiary

Murugappa Group firm EID Parry (India) Ltd is planning to add two out of the three facilities of its subsidiary, Parry Sugar Industries Ltd (PSIL), in which the company has acquired 65 per cent stake from GMR Group, to itself. The restructuring is expected to reduce the cost of funding of these units, which has been making loss till recently and in the verge of turnaround, among other consolidation benefits, said senior officials from EID Parry.