Business

Forbes & Company to divest stake in Eureka Forbes

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Forbes & Company Ltd., a subsidiary of Shapoorji Pallonji & Company, has announced plans to unlock value of Eureka Forbes Ltd., its 100% subsidiary, through listing or dilution of stake or sale.

Forbes & Company’s board has authorised the management of the company to evaluate a scheme of arrangement and other appropriate mechanisms for this purpose.

Eureka Forbes, India’s leading health and hygiene company deals in water purifiers, vacuum cleaners, air purifiers and home security solutions. Its products are sold in over 35 countries globally. The company has an installed base of over 19 million customers. Its service network reaches 7.3 million customers spread over 1,500 cities and towns in India. The company reaches over 12 million homes each year through a strong network of over 1,800 business partners and 7,500 service engineers that support service across 21,000 postal codes of India over 800 towns.

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Printable version | Dec 16, 2019 1:43:41 AM | https://www.thehindu.com/business/forbes-company-to-divest-stake-in-eureka-forbes/article30019711.ece

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