De-merger of steam turbine business would be an unlocking of value: Triveni Engineering & Industries

Dhruv Sawhney, chairman & managing director, Triveni Engineering & Industries, Ltd, in a chat with ET Now talks about the de-merger of steam turbine business.

What is the reason for the steam turbine business de-merger and what this will actually mean for shareholders?

We are de-merging our steam turbine business into a company called Triveni Turbines Limited. This used to be called Triveni Retail Ventures and each shareholder of Triveni today, well on the date of the appointed date will get one share of the Triveni Turbines Limited automatically. So as far as the shareholders are concerned, this would be an unlocking of value in terms of a focussed entity. This will be a court driven process.

After clearance from the Bombay Stock Exchange, we would apply to the court and the court would have meetings of the shareholders and creditors and after the court approves it, we would list this entity in the next two months on the stock exchanges, same stock exchanges as what Triveni is listed at. That is where the value will be discovered.