Following the demerger of its engines/auto components business and its investments, the erstwhile Kirloskar Engines will be listed on the stock exchanges as two separate companies. Kirloskar Oil Engines Ltd and Kirloskar Industries Ltd will be re-listed and listed respectively, which is the culmination of the year long process that the Kirlsokars undertook to unlock the value of its core manufacturing business.

The split of assets and liabilities will be roughly 50% into the two companies. The demerger scheme of arrangement has

received all legal clearances and the listing and re-listing process has started.

The company is in the process of changing the names of the two companies. This matter is pending with the ROC and this will happen in a few days. The name of Kirloskar Oil Engines Ltd will be changed to Kirloskar Industries Ltd with effect from March 31, 2010 and this company will hold all the investments, assents and windmills that were part of erstwhile KOEL. The first listing will be of Kirloskar Industries. KOEL will take more time to list as it has to first make allotments to shareholders and this process has not been completed.

The engine and auto components business, which was moved to Kirloskar Engines India Ltd will now be re-named Kirloskar Oil Engines Ltd. KEIL was promoted and incorporated a wholly owned subsidiary in January 2009 and it took over the engines and auto component business of KOEL.There has also been a reduction and reorganisation of share capital of KOEL.