Consolidated Finvest to demerge its investment business

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New Delhi, Jan 3 (UNI) Consolidated Finvest&Holdings Ltd (CFHL) today said its board has decided to spin off its investment business to a new company, Jindal India Finvest&Holdings Ltd (JIFHL).

The company also amalgamate Jindal India Powertech (JIPL) with Consolidated Finvest&Holdings Ltd, said a statement.

The de-mergered company, JIFHL will be listed at National Stock Exchange of India Ltd (NSE) and Bombay Stock Exchange Ltd (BSE).

CFHL will issue of one equity share as fully paid of Jindal India Finvest&Holdings Ltd for every one equity share held by existing shareholders in the company.

CHFL will also issue of one equity share the company as fully paid up to the equity share holders of JIPL for every one fully paid up equity share held by them and to issue one CFHL partly paid up equity share of same value for every one partly paid equity share held in the capital of JIPL.

UNI PBB BJR RK1632

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