Teledata Informatics to demerge into three entities

New Delhi, Dec 7 (UNI) Teledata Informatics Ltd, a software solutions company providing enterprise-wide solutions for the marine, education and utility sector, today said it plans to split the company into three separate entities focussing on specific businesses.

One of the demerged entities would be Teledata Marine Solutions Ltd taking care of the company's logistics software products, marine software, e-learning ship owning and ship management, environmental pollution certification, port management and LPG distribution.

The second entity -- Teledata Technology Solutions Ltd -- would be engaged in the projects, consulting and recruitment activities of the company.

While Teledata Informatics Ltd would be involved in the education, utility, communication and agro biotech activities.

Post the demerger, the equity share capital will stand at Rs 39.33 crore in the company with 19.66 crore equity shares of Rs 2 each, a statement said.

Teledata Marine Solutions Ltd will have an equity share capital of Rs 29.49 crore with 14.748 crore equity shares of Rs 2 each while Teledata Technology Solutions Ltd would hold Rs 29.16 crore with 14.58 crore equity shares of Rs 2 each as its post-demerger equity share capital.

''The demerger will ensure better operational management and focus on accelerated growth of individual units and will also ensure higher returns,'' company's Managing Director K Padmanabhan said.

''The restructuring will enable greater focus on the respective business operations and products and provide scope for independent collaboration and expansion.'' Moreover, the demerger will create potential to attract different set of investors, strategic partners and lenders for each business, thereby unlocking and enhancing value for shareholders and other stakeholders, he added.

The scheme has been filed with the Chennai High Court for approval.

The process is expected to be completed in three to four months and the shares of the demerged entities are expected to be listed by April next year.

UNI PV DKS RS2006