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Spice Group-led handset manufacturer S Mobility is planning to hive off its manufacturing division into a subsidiary, S Mobile Devices, before it lists the company on the stock exchange, says news reports.
S Mobile Devices will handle the mobile device business of the company. T M Ramakrishnan, National sales head, S Mobility, will be the chief executive officer of the subsidiary.
S Mobility is also planning to list its two other subsidiaries, Spice Digital and Spice Retail to bring in more investment in these companies.
The three companies will have separate management boards that will function independently. However, they will be overseen by the parent company Spice Group which is headed by its chairman B K Modi.
