Surana Telecom and Power Limited, a city-based manufacturer of optical fibre, ethernet converters (modems), power cables and aluminium rods, will dilute 20 per cent of the equity in its solar power subsidiary – Surana Ventures Limited (SVL) – to foreign institutional investors (FIIs). The capital raised will be utilised to fuel SVL`s expansion plans.
Surana Telecom, on October 14, received in-principle approval from its board to demerge the solar business and consolidate it with group company Surana Ventures. At present, Surana Telecom and its publicly-listed group company Bhagyanagar India Limited hold 49 per cent each in Surana Ventures, while the rest is with the promoters
| NIFTY 
