KRBL’s board has discussed the potential hive off of the company's Energy business into a newly formed legal entity (potential restructuring). The intent of the said potential restructuring is to unlock the value of Energy business separately. The Board of Directors of the company, at its meeting held on August 11, 2020, has discussed the same.
The Board has appointed KPMG Assurance and Consulting Services LLP as the tax advisor in connection with the potential restructuring and has asked the senior management to evaluate various options for the potential restructuring. The senior management will, in consultation with the company's advisors, prepare and present a draft restructuring proposal enumerating options for the Board's consideration in due course.
KRBL is a century old company and owners of India’s top rice brand India Gate Basmati Rice.
