Areva T&D India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 11, 2011, have in principle decided for Demerger of the Distribution Business of the Company, to its wholly owned subsidiary viz. Smartgrid Automation Distribution and switchgear Limited.
As per terms, the appointed date is April 01, 2011 and the indicative fair exchange ratio in principle determined by the Valuers is:-
"For every 1 (one) Equity Share of face and paid up value of Rs. 2/- (two) held in AREVA T&D India Ltd., 1 (one) Equity Share of face and paid up value of Rs. 2/- (two) in Smartgrid Automation Distribution and switchgear Limited to be issued to the equity shareholders of AREVA T&D India Ltd."
Sensex
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Monday, April 11, 2011
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