Mumbai, Oct 20 : Diversified firm Lanco Infratech on Monday said its subsidiary company Lanco Hills Technology Park Private Ltd (LHTPPL) would be demerged into two separate entities.
Lanco Hills Technology Park took a decision in this regard during the meeting of its board of directors, Lanco Infratech said in a regulatory filing to the Bombay Stock Exchange.
“With the demerger of LHTPPL, special economic zone (SEZ) business would be retained by the existing LHTPPL and the Non-SEZ business would be demerged into separate company,” the company said.
The demerger, which is subject to statutory approval, would be effective from April 1, 2008, it added.
Shares of the company were trading at Rs 132.90, down 3.10 per cent in the late afternoon trade on the BSE.
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