Bajaj Auto Ltd, the country's second-biggest two-wheeler maker, is likely to take a decision on May 17 for carving out the company's auto and financial business into separate entities.
The company today informed the Bombay Stock Exchange its Board of Directors would meet on May 17 to consider a proposal for demerger, besides taking up the audited financial results and dividend for 2006-07.
Bajaj Auto chairman Rahul Bajaj had in the past said the company intended to unlock shareholders value by splitting the manufacturing and financial assets into two separate entities.At present, the company has cash reserves of around Rs 8,000 crore and a market capitalisation of about Rs 25,950 crore. The shares of the company closed at Rs 2,609, up 1.74 per cent on BSE today.
Read more in The Economic Times article.
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