Arvind Ltd to de-merge realty business.

Textile conglomerate Arvind Ltd. recently approved demerger and transfer of its real estate business to Arvind Infrastructure Ltd. (AIL). The company also said that AIL will be separately listed on stock exchange. AIL is a wholly-owned subsidiary of Arvind Ltd. and is engaged in real estate development.

According to the company, the demerger will allow AIL to raise further capital and debt as required for its growth. 'In order to drive the growth of real estate business independently, the board of Arvind Ltd. has approved the scheme of arrangement between Arvind Ltd and AIL for demerger and transfer of real estate undertaking to AIL,' said Jayesh Shah, director and chief financial officer, Arvind Ltd.

TOI