Debt-laden Shapoorji Pallonji (SP) Group taking a step towards reducing debt, has announced a Scheme of Arrangement to separate its Hygiene product and water purifier maker Eureka Forbes Limited. The Scheme will not only pave the way for separation of Hygiene product business but also list it separately.

Forbes & Company Limited (FCL) is engaged in the business of engineering (precision tools and coding) and residential project development. Further, through its subsidiaries, FCL also carries business of Health & Hygiene products, Shipping Business, and Information Technology. The Registered Office is situated at Mumbai.

Eureka Forbes Limited (EFL) is engaged in manufacturing, and servicing of vacuum cleaners, water filter cum purifiers, water and wastewater treatment plant, trading in electronic air cleaning systems, small household appliances, digital security system and fire extinguishers, etc. It is Wholly Owned Subsidiary (WoS) of FCL. EFL is in the process of shifting its registered office from the state of West Bengal to the state of Maharashtra.

Aquaignis Technologies Private Limited (ATPL) is engaged in manufacturing of electric water purifier₹ It is Wholly Owned Subsidiary (WoS) of EFL.

Euro Forbes Financial Services Limited (EFFSL) is Wholly Owned Subsidiary (WoS) of EFL. Currently, there are no operations being carried by EFFSL.

Forbes Enviro Solutions Limited (FESL) is in the business of manufacturing of RO systems, Water Treatment Plants (WTP), Sewage Treatment Plants (STP), Effluent Treatment Plant (ETP) and AMC Contracts, trading of spares and drinking water (PDW). It is Wholly Owned Subsidiary (WoS) of EFL.

All the companies are part of Shapoorji Pallonji Group (“SP Group”).

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The Transaction

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