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Board of Alembic accords in-principle approval for scheme of arrangement

Capital Market 

At held on 11 September 2018

The Board of at its held on 11 September 2018 has inter alia considered and accorded 'in-principle' approval to the proposal to demerge the Identified Undertaking of the Company into Shreno, an unlisted public limited company, to be implemented by way of a Scheme of Arrangement.

The Identified Undertaking proposed to be demerged would comprise of:
i) A premium residential project of Alembic;
ii) Interest in real estate business held through investment in Shreno; and
iii) Project Management Consultancy ('PMC') business, services of which are provided by the Company to

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 11 2018. 20:36 IST