Shapoorji Pallonji group subsidiary announces plan to list Eureka Forbes

Forbes & Company, a Shapoorji Pallonji group firm on Tuesday announced plans to list its subsidiary Eureka Forbes to unlock value for shareholders. The company's board has authorised the management to evaluate any such scheme in this regard, Forbes & Company said in a regulatory filing. "The Board of Directors of the company has authorised the management...to evaluate a scheme of arrangement and/or other appropriate mechanisms to enable an eventual listing of Eureka Forbes with an intention to unlock value in the hands of all the shareholders of the company," it said. These may also include listing, dilution/sale or combination thereof of Eureka Forbes, it added. Eureka Forbes is a wholly-owned subsidiary of Forbes & Company. "The Board will consider the above (schemes) when the relevant proposals are placed before it in the near future, but in principle has approved supporting the endeavours of the management in this regard," it said. It operates in water purifier, air ...

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