Zuari Global’s (erstwhile Zuari Industries) restructured fertiliser unit, Zuari Agro Chemicals Ltd, will be listed on the exchanges this week. According to an NSE circular, it will get listed on Tuesday under compulsory delivery. The Goa-based Zuari Industries started the restructuring process last year: shares held by three subsidiaries/joint venture were transferred to its wholly owned subsidiary, Zuari Holdings Ltd.
Pursuant to the approved scheme of demerger in Zuari Industries, the fertiliser business (along with 40 per cent stake in Paradeep Phosphates) had been transferred to Zuari Holdings in the ratio of 1:1. Subsequently, the name was changed to Zuari Agro Industries.
With the market giving thumbs up to the re-listing of restructured entities such as Cinemax (Cinemax India and Cinemax Properties), Provogue (Provogue India and Prozone Realty) and Sundram Clayton, interest is perking up on the counter.