CESC restructures business into four companies to unlock value

CESC restructures business into four companies to unlock value

RP-Sanjiv Goenka Group’s flagship company, CESC Ltd, on Thursday announced restructuring of the company’s business verticals into four distinct companies which will be listed on the country’s bourses by October 1 this year.As per the demerger, the group’s power business will be divided into two – generation and distribution while its retail arm, led by Spencer’s Retail will become the third company. The rest of the company’s business verticals, which includes its BPO arm, Firstsource Solutions, sports division, New Rising Promoters, the real estate wing, Quest Properties India, the FMCG division, Guiltfree, and others will form the fourth entity.

The group’s current flagship company, CESC Ltd, will take over the distribution business while the other three companies will be listed on BSE, NSE and the Calcutta Stock Exchange.

The generation wing will be named Haldia Energy Ltd while the retail division will be christened RP-SG Retail Ltd. The entity which will have the rest of the businesses will be named RP-SG Business Process Services Ltd. However, these names can be changed at a later date. Read more

Credits:business-standard.com

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