Eureka Forbes Plans IPO:
Eureka Forbes is a part of Forbes & Company. The Shapoorji Pallonji group company declared to introduce to list their subsidiary Eureka Forbes for unlocking the values of shareholders on Tuesday.
The Shapoorji Pallonji group is a co-partner of Eureka Forbes. In a regulatory filing, Forbes & company said that the company board permitted to considering such types of plans.
It also said that the firm board of directors permitted to analyze the scheme or plan and allow the suitable mechanisms for the Eureka Forbes listing through the unlocking value for all shareholders in the firm.
The Eureka Forbes sales and dilutions also involved in this listing. Eureka Forbes completely owned by another firm. The Forbes and firm is the parent company or holding firm of Eureka Forbes.
In the future, when the related offers put down in front of the firm board then the scheme or plan will be observed.
The product of Eureka Forbes such as water purifiers, air purifiers, vacuum cleaners, and security solutions system segment.
In 2017- 2018 financial year income of Eureka Forbes Rs 2,961.2 crores only from the water purification systems. And the firm extended to 1,500 cites across 53 countries.
According to the exports, by the next 5 years, Eureka Forbes plans to enter in the billion-dollar roundtable. And also want to expand the company in 25,000 cites. The company existing in the Indian market for nearly 37 years.
Aquaguard is the water purifier band for this company. Approximately 60% share climb from the Eureka Forbes in the whole market, and the returns nearly Rs 4,500 crore.