Somany Home Innovation shares get listed on BSE, NSE1 min read . Updated: 26 Dec 2019, 12:41 PM IST
- Post demerger, Somany Home Innovation Limited (SHIL) had issued one equity share each of SHIL for one equity share held by the shareholders of HSIL.
Shares of Somany Home Innovation got listed on BSE and NSE today. They are currently trading at ₹161.50 apiece. HSIL had spun off its consumer products distribution and retail division of HSIL to Somany Home Innovation (SHIL). The marketing and distribution business of building products division was transferred to Brilloca, which is a 100% SHIL subsidiary.
Post demerger, Somany Home Innovation Limited (SHIL) had issued one equity share each of SHIL for one equity share held by the shareholders of HSIL. The record date was 20th August 2019.
In FY 2017-18, HSIL board had approved a scheme of arrangement for demerger of the company’s businesses. The objective of the demerger was to unlock value by creating distinct entities, thereby ensuring sharper focus and better alignment to its customers.
HSIL shares were today trading trading 0.90% lower at ₹44.05 apiece.