CESC demerges into 4 companies: stock dipped 15%
Shital Jibhe / 19 May 2017
On May 18, 2017, CESC announced split of the company’s business verticals into four companies for value unlocking and all these entities will be listed and effective by October 1.
On May 18, 2017, CESC announced split of the company’s business verticals into four companies for value unlocking and all these entities will be listed and effective by October 1.
These four entities will be focusing on generation, distribution, organised retail and other ventures.
After the restructuring, all generation activity will be housed in CESC generation which is at 2,550 MW now while all the power distribution business will be handled by CESC Ltd. Spencer’s retail will be a separate company and CESC Ventures will handle BPO, FMCG, non-power and non-retail businesses.
CESC’s share capital increased to Rs 198 crore from Rs 132 crore which means Rs 66 crore worth of additional shares will be issued to the shareholders.A shareholder with 10 shares each will get five shares of Rs 10 each in generation, distribution, two shares in CESC ventures and six shares in Spencer’s retail.
On Friday, CESC is trading at Rs 872.90, up by 43.10 points or 5.19% at 9:50 on BSE.It opened with Rs 850.00 and previously closed with Rs 829.80.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.