This is very dated news , may be something is now happening actually.
Source: IRIS NEWS DIGEST (09 December 2006)
Teledata Informatics is looking to split into 3 entities for better management of its businesses, reports Business Line.
The company provides IT solutions in five verticals - marine, education, utilities, technology and communication and networking.
According to Managing Director, K. Padmanabhan, the company`s marine and technology solutions businesses will be hived off into separate units - Teledata Marine Solutions and Teledata Technology Solutions - while the flagship company, Teledata Informatics would retain the other businesses.
As on Sep. 2006, marine and technology solutions contributed 30.51% and 45.33% respectively to the company`s Rs 6.34 billion revenues.
Managing such proportions of business would need individual focus and a new company structure, said Mr Padmanabhan, explaining the rationale behind the planned demerger.
Post-demerger, the equity share capital of the marine, technology and informatics entities would be Rs 294.9 million, Rs 291.6 million and Rs 393.3 million respectively.
For every 100 shares of Teledata Informatics, shareholders will receive 50 shares each of Teledata Marine Solutions and Teledata Technology Solutions, besides 100 shares of Teledata Informatics.