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Virat Crane to demerge its real estate business

April 18, 2008

Virat Crane Industries has obtained the in-principle approval of the exchange for the demerger of its real estate / infrastructure division into Crane Infrastructure and amalgamation / merger of Durga Dairy with Virat Crane Industries.

The demerger scheme envisages a share issuance of 1 shares of demerged entity namely Crane Infrastructure for every 1 share held by the existing shareholders of the company.

The demerger of real estate / infrastructure division and amalgamation / merger of Durga Dairy with the vompany will take effect after obtaining the order of Honorable High Court of Andhra Pradesh, Hyderabad. The company has initiated the process with reference to the court approval.

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