Borosil to demerge in next 10-12 months; two listed entities post that

Borosil expects the demerger to be complete in the next 10-12 months,  Shreevar Kheruka, MD and CEO, told CNBC-TV18, adding that there will be two listed entities post demerger.

The company, apart from making consumer products, also makes scientific products. Borosil, in the month of February along with its Q3 earnings, had announced the demerger. So Borosil Limited will have the consumer business, which is microwave glass products and the other entity which will be listed will be called Borosil Scientific.

Kheruka said, “We have already filed the requisite regulatory approvals for this demerger and there is a full process that has to go through and from our experience, this is likely to take anywhere from 10-12 months depending on the timing of various NCLT, court orders etc. So, sometime at the end of this year or early next year, we should be through with it and both the companies will be listed separately once the demerger is done and all approvals received.”