The board of Videocon Industries has approved a recommendation to segregate its international and domestic oil and gas business by way of a demerger.
It has, in-principle, agreed to the appointment of various agencies for working out detailed alternative schemes for unlocking the shareholders value.
Out of alternative schemes given by the agencies and recommended by the re-organisation committee, the Board will identify one scheme that best suits interest for unlocking shareholder value, and subject to necessary approvals, proceed further, the company has said.
The Videocon Industries stock was trading flat at Rs 173.40 in morning trade on the BSE.