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- Anant Raj Ltd, a Delhi-based real estate developer, has announced plans to demerge its data centre and cloud services business into a separately listed company called Ashok Cloud Pvt Ltd. The board approved a scheme under which subsidiary Anant Raj Cloud Pvt Ltd will first be merged into Anant Raj Ltd, and the data centre business will then be demerged into Ashok Cloud.
- Existing shareholders of Anant Raj will receive shares in Ashok Cloud as part of the demerger.
- The company says the move will create two focused listed companies, one for real estate and one for digital infrastructure, after a year in which its profit rose to Rs 557.02 crore and total income to Rs 2,579.08 crore.
What to watch next
- Approval of the composite scheme of arrangement by shareholders, creditors and regulators
- The share entitlement ratio for Anant Raj shareholders receiving Ashok Cloud shares
- Timeline for Ashok Cloud's separate stock exchange listing
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Named India · Anant Raj Cloud Pvt Ltd · Andhra Pradesh · Ashok Cloud Pvt Ltd · Delhi-NCR · Haryana · Rajasthan · Anant Raj Ltd
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