Kesoram Industries Limited, a flagship company of the B.K.Birla Group of Companies, decided at a Board Meeting to spin off its Tyre Business (“Birla Tyres” ) by demerging this Undertaking into a Resulting Company, Birla Tyres Limited (“BTL”). Upon grant of the requisite approvals, BTL will also become a listed company with its shareholding pattern mirroring Kesoram.
The Appointed Date for such Demerger will be commencement of business on January 1, 2019, Kesoram says in a Press release.
The demerger proposed is part of an ongoing exercise undertaken by Kesoram over the past few months in further realigning and recalibrating operations.  The objective has been to transform each business into entities that are market-driven in their approach. The process is expected to act as a stimulant for further investments into BTL.