Kesoram to spin off Birla Tyres

On 4 December Kesoram Industries Ltd (part of the BK Birla Group of Companies) announced its intention to demerge its Birla Tyres Ltd business. As a result, Birla Tyres will become a listed company with its own shareholders. The demerger is scheduled for 1 January 2019.

According to the company, the demerger process is part of an “realigning and recalibrating” process. Specific goals of the move include: revitalising existing product portfolios to extend reach into “much wider spectrum of tyre segments and markets” and “leveraging the positive brand image of Birla Tyres”.