The Hindu Business Line : Teledata to hive off marine, tech units

According to Mr K. Padmanabhan, Managing Director, the company's marine and technology solutions businesses will be hived off into separate units - Teledata Marine Solutions Ltd and Teledata Technology Solutions Ltd - while the flagship company Teledata Informatics would retain the other businesses.

As on September 2006, marine and technology solutions contributed 30.51 per cent and 45.33 per cent respectively to the company's Rs 634.3-crore revenues.

Managing such proportions of business would need individual focus and a new company structure, said Mr Padmanabhan, explaining the rationale behind the planned demerger.

As part of the demerger process, assets worth Rs 213.6 crore would be transferred from Teledata Informatics to Teledata Marine Solutions while Teledata Technology Solutions would receive Rs 76.57 crore.

Assets worth about Rs 240 crore would be retained by Teledata Informatics.

Post-demerger, the equity share capital of the marine, technology and informatics entities would be Rs 29.49 crore, Rs 29.16 crore and Rs 39.33 crore respectively.

For every 100 shares of Teledata Informatics, shareholders will receive 50 shares each of Teledata Marine Solutions and Teledata Technology Solutions, besides 100 shares of Teledata Informatics.

The demerger along with listing of shares of the demerged entities would be completed by April 2007, said Mr Padmanabhan.

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