Anant Raj has secured approval to demerge its Data Centre & Cloud Services business into a separate listed company. The Board of Directors of the company has approved a Composite Scheme of Arrangement for the strategic restructuring. The Composite Scheme will create two focused listed companies by separating the Group's rapidly growing Data Centre & Cloud Services business from its core real estate and infrastructure business.
Under the proposed arrangement, the company will first consolidate all its data centre and cloud operations under one entity before carving them out into Ashok Cloud (ACPL), a dedicated digital infrastructure and cloud services company that will be listed independently. The restructuring is aimed at creating two focused businesses one in real estate and infrastructure and the other in digital infrastructure allowing each to pursue independent growth strategies, improve operational efficiency and create long-term value for shareholders.
Upon the Scheme becoming effective, eligible shareholders of the company will receive one fully paid-up equity share of face value of Rs 2 each in Ashok Cloud for every one fully paid-up equity share of face value of Rs 2 each held in the company. The Scheme will not result in the cancellation of the company's existing shareholding in Ashok Cloud, and ACPL will continue to remain a subsidiary of the company. The proposed Scheme is subject to receipt of all necessary statutory, regulatory and judicial approvals, including approvals from the National Company Law Tribunal (NCLT), SEBI, the stock exchanges, shareholders, creditors and other applicable authorities, as required.
Anant Raj is one of India’s leading Infrastructure Development Enterprise.
