Handset manufacturer Spice Mobiles is in the process of merging with its parent company, Spice Televentures, in order to consolidate the group’s telecom businesses. The merged telecom entity will be known as Spice Mobility. It will lead to the creation of 42 million treasury shares, of which 10 million will be set aside for employees and the remaining will be put on sale in the market to raise about Rs 3 billion.
