Kirloskar Electric Company - demerger

Kirloskar Electric Company Ltd has informed that the Kirloskar Power Equipments Ltd whose operating business is proposed to be demerged into the Company, is engaged in the business of manufacturing and selling of Cast Resin Dry Type Transformers and Oil Filled Transformers. Their turnover for the year ended March 31, 2007 was Rs 112.25 crores and profit after tax was Rs 12.59 crores. The corresponding figures for the previous year are Rs 69.81 crores & Rs 3.52 crores. Their paid up capital is 35,00,000 equity shares of Rs 10/- each.

The Total no of share that will be issued consequent to issue of shares to be shareholders of Kirloskar Power Equipments Ltd & Kaytee Switchgear Ltd will be 1,72,52,550 shares of Rs 10/- each.

A Trust will hold the share to be issued in respect of the shares held by the Company in the above two companies.