Spencers Retail, CESC Ventures to list today

The company had taken NCLT approval under the Companies Act for the demerger of all businesses except power.

Jan 25, 2019 03:01 IST India Infoline News Service

Dalal Street
Spencers Retail and CESC Ventures are getting listed in the NSE and BSE on Friday. These two companies are non-power businesses in the power generation and distribution major CESC. The company had taken NCLT approval under the Companies Act for the demerger of all businesses except power.

Effective from Friday, January 25, 2019, the equity shares of CESC Ventures Limited shall be listed and admitted to dealings on the Bombay Stock Exchange in the list of T Group of Securities.

Spencers Retail and CESC Ventures will be a part of the trade-for-trade segment for 10 trading days.

“Pursuant to the Composite Scheme of Arrangement amongst CESC Limited, 2 fully paid up equity shares of Rs10 each of CESC Ventures Limited shall be issued and allotted for every 10 fully paid up equity shares of Rs10 each held in CESC Limited,” as per BSE filing.

The post arrangement paid up equity capital of CESC Ventures Limited is Rs26,51,14,090 consisting of 2.65cr equity shares Rs.10 each.

Related Story