Bhagyanagar India separates copper business into Tieramet Limited
2 reports, 2 independent
Updated Fri 00:00
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What happened
Bhagyanagar India is separating its core copper manufacturing business into a new public entity called Tieramet Limited. Under the proposed arrangement, shareholders of Bhagyanagar India will receive shares of Tieramet Limited in a 1:1 ratio. Tieramet Limited will issue 31,995,000 equity shares with a face value of ₹2 to the shareholders of Bhagyanagar India.
From livemint.com
Why it matters
The demerger separates the previously integrated copper operations into an independent company, allowing shareholders to gain direct ownership in the pure-play copper business. Following the announcement, the Bhagyanagar India share price rose by as much as 4% during Wednesday's trading session.
From livemint.com