As a part of this de-merger, WGBL will issue fresh shares to Promoters and shareholders of WIL in lieu of Promoters' and WIL's shareholding in WRL (which is valued at cost basis) and thus WGBL will hold entire equity of WRL.
The current shareholders of WIL will be allotted new shares in WGBL and WINV. Shareholders of every 100 shares in WIL will be given 10 shares of WGBL and five shares of WINV.
Post Demerger, Promoter and Non-Promoter shareholding in WGBL shall be 57.6 per cent and 42.4 per cent respectively.
Upon de-merger, both WGBL and WINV will automatically be listed separately on Indian stock exchanges, that is NSE and BSE.
The arrangement is subject to necessary statutory and regulatory approvals. The effective date for this de-merger is proposed to be April 1, 2009.