Saturday, Apr 20 2024 | Time 19:04 Hrs(IST)
image
Business EconomyPosted at: Dec 15 2018 1:17PM


Datamatics to demerge and separately list its subsidiary Lumina Datamatics

Mumbai, Dec 15 (UNI) The Board of Directors of Datamatics Global Services Limited (DGSL), and Lumina Datamatics Limited in their respective board meetings, approved a proposal to merge the two Companies into DGSL.
The merged Company would then be vertically split into two Companies, namely, Datamatics Global Services Ltd. and LDR E-Retail Ltd. Thus, the shareholders of DGSL will have an identical shareholding pattern in both DGSL and LDR E-Retail Ltd.,company said in afiling with BSE.
The latter will be renamed as Lumina Datamatics Limited. The scheme is subject to regulatory approvals and proposes an appointed date of April 1, 2019.
The board was of the view that the business of two companies serve completely different market segments and have different offerings.
The de-merger will allow the managements of the each Company to focus and pursue growth strategies tailored specific for the segments they serve. The demerger will also give direct visibility of the opportunity and assets for both the companies which will further unlock value for the shareholders by way of separate listing.
DGSL is a Technology and BPM services company that builds intelligent solutions enabling data-driven businesses to digitally transform themselves through Robotics, Artificial Intelligence, Cloud, Mobility and Advanced Analytics.
Lumina is engaged in the business of providing e-retail and digital publishing services in content development, design and composition, content transformation, e-books and new media, rights and permissions, QA services, project management, consulting and information services, publishing and e-retail software development
and implementation, digital assets management and storage, adaptive assessment system, site merchandising, market intelligence and e-Commerce data publishing & e-retail solutions to clients. Lumina is already one of the five largest companies in this field.
UNI JS NP SV 1317
Please log in to get detailed story.
Tags: #Datamatics to demerge and separately list its subsidiary Lumina Datamatics
More News

Kottayam-Kochi Rubber Market Rates

20 Apr 2024 | 4:46 PM

Kottayam, Apr 20 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Saturday per quintal.

see more..
ICICI Bank strengthens support for senior citizens in Bengal

ICICI Bank strengthens support for senior citizens in Bengal

20 Apr 2024 | 1:29 PM

Kolkata, April 20 (UNI) The ICICI Bank has announced a range of initiatives to make banking more convenient to its senior citizen customers in West Bengal.

see more..

IREDA nets all-time high at Rs 1,252 23 cr in FY24

19 Apr 2024 | 8:38 PM

New Delhi, April 19 (UNI) Indian Renewable Energy Development Agency Ltd. (IREDA), the nation's largest pure-play green financing NBFC, Friday announced an all-time high net profit of Rs. 1,252.23 crore in 2023-24, a 44.83 per cent jump over the previous fiscal year 2022-23.

see more..

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..

Amara Raja Infra Wins Greenko’s 700MWp solar project in AP

19 Apr 2024 | 6:41 PM

Hyderabad, Apr 19 (UNI) Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, on Friday announced it has secured a solar BoS (Balance of System) project of 500MW/700MWp from Greenko.

see more..
image