Unitech’s board of directors has approved the demerger of the group’s infrastructure businesses including telecom, hotels, amusement parks and special economic zones into a separate en tity, Unitech Infra.

Unitech’s board of directors has approved the demerger of the group’s infrastructure businesses including telecom, hotels, amusement parks and special economic zones into a separate entity, Unitech Infra. To leverage these demerged infrastructure businesses, Unitech is planning to list the new entity on the Indian stock exchanges by end-2010. According to Unitech, the demerged entity is estimated to have a net worth of Rs 50 billion and a debt of Rs 3.5 billion. The order book is about Rs 27 billion. Post-listing, Unitech plans to hold a 35 per cent stake in Unitech Infra, while Unitech’s promoters will have a 32 per cent share. The remaining ownership will be with the public.