Business Daily from THE HINDU group of publications
Wednesday, Jul 02, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jul 02, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Restructuring SBTL demerges ISP division Hyderabad, July 1 The board of directors of Southern Online Bio Technologies Ltd has decided to demerge its bio-diesel and ISP (Internet Services Protocol) divisions into separate entities. While the bio-diesel division would continue to be called Southern Online Bio Technologies Ltd, the ISP services would be demerged into a separate company called Southern Online Services. “We are going to submit applications with stock exchanges for in-principle permission for the demerger. We hope to complete the process in nine months,” Mr N. Satish Kumar, Managing Director of the company, told Business Line. The demerger plan envisaged allotment of 77 equity shares in SBTL (demerged company) and 23 shares in the ISP company for every 100 shares the investors held in the parent company. The board, which met here on Monday, also decided to defer the plan related to raising funds through preferential issue and warrants. — Our Bureau More Stories on : Restructuring | ISPs | Non-conventional Energy
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