In December 2022, the Board of Directors of Rossell India Limited announced demerger of identified undertaking into its wholly owned subsidiary Rossell Techsys Limited which on completion of demerger, will be listed separately.
Rossell India Limited ("RIL" or "Demerged Company"), established in 1994, is engaged in two different set of activities:
>> Tea business and
>> Aerospace & Defence
Its Tea business includes cultivation manufacture and selling of Bulk Tea known as 'Rossell Tea'. RIL owns Tea Estates in Assam. Rossell's Techsys division is engaged in the business of providing interconnect solutions and electrical panel assemblies, Test Solutions and aftermarket services in Aerospace and Defence sector.
The equity shares of RIL are listed on nationwide bourses.
Rossell Techsys Limited ('RTL' or 'Resulting Company') is recently incorporated to facilitate the demerger. Currently, entire share capital of RTL is owned by RIL.
Earlier Scheme:
This story is from the January 2023 edition of M & A Critique.
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This story is from the January 2023 edition of M & A Critique.
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