The chairman of the 37,000 crore L&T Group, Mr.AM Naik unveiled a plan to demerge L&T into nine independent companies. He said the L&T board has already approved the restructuring plan and its implementation is going on in full swing.
The nine independent entities namely are... Power, infrastructure, heavy engineering, hydrocarbon, machinery & product, switchgear, building & factories, metals & minerals and electrical businesses.
Mr.Naik said by March 2012 all of the independent entities would be 75% ready to be listed on the stock markets. "We will decide which ones get listed as we go along. I can’t tell you now how many will be spun off by 2015.” he added.
