Indo Asian Marketing to merge with Indo Asian Fusegear Limited
Indo Asian Fusegear Limited announced the demerger of its metering, institutional business and proposed power business from the company, for unlocking shareholder value and tapping further growth opportunities.
The Board of Indo Asian Fusegear Limited (which is engaged in manufacture of lighting and lighting accessories, wires & cables, energy meters etc.), has approved the demerger of its metering, institutional and proposed power business to Advanced Metering Technology Limited from April 1st 2011.
After completion of the demerger, shares of AMTL would be automatically listed on the Bombay Stock Exchange and National Stock Exchange.
Commenting on the company’s plan of demerger, Mr VP Mahendru CMD of Indo Asian Fusegear Limited said that “The company sees good potential of growth in renewable energy power generation viz. wind and solar power and is already in talks with various companies for acquisition / JV etc. The company also has plans to venture into the production of new innovative LEDs and energy conservation Lighting Controls and products for improving cost efficiencies, services and performance for its customers.”
After demerging our Metering, Institutional Business and proposed Power business into a separate company, we foresee faster growth for Wires, Cables, Wiring Accessories and Power Conservation products for which investments are allocated for adopting new products and new designs. These businesses will develop in scale and market on the new upgraded platform of technology which we have already built for LED lighting sources and luminaires and other power conservation controls including energy conservation controls for Street Lighting. These businesses will grow faster with these new technologies as they are attracting new JV partners.
Commenting on the demerger, Mr P K Ranade, joint managing director of IAFL said that “The demerger is being carried out to provide AMTL more opportunities for strategic partnerships. The move would also help AMTL in deriving greater flexibility in fund raising capability for future growth. The demerger would result in issuance of equity shares to the shareholders of IAFL in such a manner that all the shareholders become shareholders in the two companies,Under efforts of led spotlight boosting the viability of LED luminaires, many companies are expanding high-power selections. the face value of the shares of INR 10 per each will become face value of INR 5 per each of both the companies, thereby resulting in unlocking and maximising shareholders value.”
Indo Asian Fusegear Limited announced the demerger of its metering, institutional business and proposed power business from the company, for unlocking shareholder value and tapping further growth opportunities.
The Board of Indo Asian Fusegear Limited (which is engaged in manufacture of lighting and lighting accessories, wires & cables, energy meters etc.), has approved the demerger of its metering, institutional and proposed power business to Advanced Metering Technology Limited from April 1st 2011.
After completion of the demerger, shares of AMTL would be automatically listed on the Bombay Stock Exchange and National Stock Exchange.
Commenting on the company’s plan of demerger, Mr VP Mahendru CMD of Indo Asian Fusegear Limited said that “The company sees good potential of growth in renewable energy power generation viz. wind and solar power and is already in talks with various companies for acquisition / JV etc. The company also has plans to venture into the production of new innovative LEDs and energy conservation Lighting Controls and products for improving cost efficiencies, services and performance for its customers.”
After demerging our Metering, Institutional Business and proposed Power business into a separate company, we foresee faster growth for Wires, Cables, Wiring Accessories and Power Conservation products for which investments are allocated for adopting new products and new designs. These businesses will develop in scale and market on the new upgraded platform of technology which we have already built for LED lighting sources and luminaires and other power conservation controls including energy conservation controls for Street Lighting. These businesses will grow faster with these new technologies as they are attracting new JV partners.
Commenting on the demerger, Mr P K Ranade, joint managing director of IAFL said that “The demerger is being carried out to provide AMTL more opportunities for strategic partnerships. The move would also help AMTL in deriving greater flexibility in fund raising capability for future growth. The demerger would result in issuance of equity shares to the shareholders of IAFL in such a manner that all the shareholders become shareholders in the two companies,Under efforts of led spotlight boosting the viability of LED luminaires, many companies are expanding high-power selections. the face value of the shares of INR 10 per each will become face value of INR 5 per each of both the companies, thereby resulting in unlocking and maximising shareholders value.”
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