SP Tulsian of Sptulsian.Com feels that Restructuring of Triveni Engineering looks to be a pragmatic move.
Tulsian told CNBC-TV18, "Restructuring of Triveni Engineering was again due for quite a long time. But I did not like that the shares are issued on the higher equity base because the company in which they are issuing 1:1 will be having the higher equity with part of the stake retained by Triveni Engineering, so the valuation gets little diluted on listing on the new entity. But, yes, this was very much on the cards. This has been talked in the media that for last one year, there is no synergy of continuing the turbine biz with the sugar business. So this looks to be a pragmatic move."
