Crompton Greaves is planning to demerge its consumer products business after feedback from investors and the stock exchanges. In this regard, the company’s board has now reconsidered and approved the contours of the proposed demerger and decided to implement a 100 per cent demerger of the consumer products business, such that the shareholding pattern of the resulting consumer company shall mirror the shareholding pattern of Crompton Greaves.
The consumer products business was to be hived off into a new listed entity - Crompton Consumer Products (CCPL) in such a way that its ownership is distributed three ways - to Crompton Greaves, promoters of Compton Greaves (which includes billionaire Gautam Thapar and family) and the public. This was to be followed by Thapar selling part of his ownership in the new entity.
Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.
