Breaking News

You are here » Indian-Commodity  :  Top News  :  DCM gets nod for business restructuring plan

17-Oct2016

DCM gets nod for business restructuring plan

DCM has received its board's approval for restructuring of its business including demerger of real estate business. The board at its meeting held on October 15, 2016 approved the de-merger of real estate undertaking of DCM and merging it into DCM Realty and Infrastructure.

The company's board also approved amalgamation of TIARA Investment Holdings into Purearth Infrastructure. The amalgamation of Purearth Infrastructure into DCM Realty and Infrastructure will after the above mentioned moves are carried out.

Further, the company's board approved the demerger of cotton textiles business of DCM to DCM Nouvelle, such that post demerger shares of DCM Nouvelle will be held by shareholders of DCM in the same proportion as their shareholding in DCM.

The shareholders of DCM will get one equity share of Rs 10 each of the DCM Realty and Infrastructure and DCM Nouvelle for every one share held by them. DCM Realty and Infrastructure and DCM Nouvelle will list on the stock exchanges.

DCM is one of India's largest conglomerates into a number of manufacturing activities such as Textiles, Sugar, Chemicals, Rayon, Tyre Cord, Fertilizers, Information Technology and Engineering Products etc.


Related News

View all news

Turmeric futures trade higher on rising demand

Turmeric futures traded higher on NCDEX as market participants enlarged their holdings on account of rising demand for standing crop in the physical market. Moreover, government procurement in some states......

Coriander futures trade up on restricted arrivals

Coriander futures traded up on NCDEX as speculators built up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions also fuelled the......

Cotton futures trade down on profit booking

Cotton futures traded down on MCX on profit booking after prices gained on reports of lower production in major growing regions. However, increased demand for crop from major cotton consumers, trimmed......

Top News

View all news

Quess Corp, Ashoka Buildcon and ICICI Bank to see some action today

Quess Corp's subsidiary Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Quess Corp's arm to acquire majority stake in Allsec Technologies

Quess Corp's subsidiary -- Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Ashoka Buildcon's JV receives LoA from Rail Vikas Nigam

Ashoka Buildcon's Joint Venture (JV) -- ABL-STS JV, wherein the Company is lead member, has received a Letter of Award (LoA) from Rail Vikas Nigam (RVNL). The accepted Bid Value of the Project is Rs 443.23......