Videocon Ind surged on demerger reports

Consumer durables major Videocon Industries zommed today over speculations of demerger of the company’s operations.

As per market speculations, the company may soon spin off its business into three verticals — consumer goods, telecom and oil & gas. There are also reports of company’s plans of raising funds through qualified institutional placement (QIP) route.

The company is engaged in two core businesses—consumer electronic products and home appliances, and oil and gas exploration and production. Its subsidiaries include Paramount Global Ltd, Global Energy Inc, Sky Billion Trading Ltd, Videocon Global Ltd, Venus Corporation Ltd and Powerking Corporation Ltd, among others.

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