GHCL Completes Demerger Of Its Spinning Business Into GHCL Textiles
Listen to This Article
Chemicals major GHCL has completed the demerger of its spinning business into GHCL Textiles.
The demerger became effective from April 1 and the new entity GHCL Textiles will be listed on NSE and BSE after receiving regulatory approvals.
The "demerger aims to unlock and maximise value for all stakeholders' and focus on operations and customers. It brings forth focused leadership and addresses independent opportunities with prudent capital allocation, the company said in a statement on Monday.
"GHCL Textiles assumes all the assets and liabilities of the spinning business," it added.
As per the demerger scheme, GHCL shareholders are "to get shares of GHCL Textiles in the ratio of 1:1".
GHCL Managing Director R S Jalan said, the demerger is envisaged to create strong independent businesses uniquely positioned to enhance stakeholders' value over time.
In February, the Ahmedabad bench of NCLT approved the demerger of the spinning division of the company into GHCL Textiles.
GHCL is into manufacturing of soda ash, a major raw material for detergents and glass industries and sodium bicarbonate (baking soda).
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more