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Forbes & Co demerges precision tools, machine parts business

Mint  

Publicly listed Shapoorji Pallonji Group company Forbes and Co. has announced the demerger of its precision tools and machine parts business. A new entity called the Forbes Precision Tools and Machine Parts Ltd (FPTL) will be carved out of Forbes & Co. Four fully paid up equity shares of INR 10 each of FPTL shall be allotted to the equity shareholders of Forbes & Co for every fully paid up equity share of INR 10 each held by them in the demerged company as on the record date. The turnover of precision tools business for Forbes for the financial year ended 31 March, 2022 was INR 179.22 crore, accounting for 76.25 % of the total turnover.