Bajaj Electricals to demerge its power transmission & distribution business

Bajaj Electricals Ltd would demerge its power transmission and distribution (T&D) business into a separate company in a move to create a sector-focused firm and streamline the management structure.

The board of Shekhar Bajaj-led company on Tuesday approved the scheme of arrangement between Bajaj Electricals (the demerged company) and Bajel Projects Ltd (the resulting company) subject to the approval of shareholders, said a regulatory filing.

As per the scheme, 1 equity share of face value of Rs 2 each fully paid-up of Bajel Projects will be issued for every 1 equity share of face value Rs 2 each fully paid-up held by equity shareholders of Bajaj Electricals, it added.