BPL may hive-off PCB biz, issue pref shares

BPL is looking to hive-off its printed circuit board (PCB) business into a joint venture.

The board of directors will meet on April 2, 2007 to consider lease and/or transfer of the business to a proposed joint venture company and invest in the equity of the JV company.

The latest move by BPL follows recent moves by the company to exit the dry cell business and hive off the alkaline battery business into a JV. The company has also formed a JV with Sanyo for colour TV business.

BPL would also be considering a proposal to issue securities on preferential basis.