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New Delhi, March 1

GTC Industries Ltd has announced that the board of directors has considered and granted in-principle approval to demerge the tobacco and real estate businesses into two separate entities. A release from the company said the de-merged entities would be listed separately on the stock exchanges. “The de-merger has been done in the interest of the shareholders, as it would unlock unique shareholder value across both verticals,” Mr Sanjay Dalmia, Promoter, GTC Indus tries, said in the release. He added that the company is in the process of examining various options for working out a suitable scheme of de-merger keeping the interest of the shareholder in mind.

— Our Bureau

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