Directors of Kirloskar Oil Engines have approved a demerger of the company that separates the engines and oil divisions.
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Kirloskar Engines India will require stock exchange, shareholder and court approval for the demerger from 1 April.
The board has assigned three INR2 shares of Kirloskar Engines India for every four in the previous company.
Kirloska Oil Engines was previously in partnership with Briggs & Stratton of the USA and Knecht Filterwerke of Germany between 1997 and 2002.
The Kirloskar group is one of India’s oldest industrial groups making pumps, engines, compressors, lathes and electrical equipment and includes auto assembler Toyota Kirloskar Motors.
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By GlobalDataKevin Jacobs
