HEMANT SACHAN

HCL Demerger
• December 18, 2002 - HCL Infosystems,
India's premier information enabling
company, today announced its decision to
redefine and realign its businesses with a
view to focus on its core strengths. The
Board of HCL Infosystems Ltd at their
meeting held today approved a
restructuring proposal. Taking advantage
of the synergies within the company and
companies under the HCL banner, HCL
Infosystems will demerge its software
export business to HCL Technologies and
transfer its Office Automation division to
HCL Infinet. Post the realignment, HCL
Infosystems will strategically focus on the
• The software export business unit of
HCL Infosystems, also known as the
Professional Services Organisation
(PSO), will now be demerged with HCL
Technologies.
• The entitlement ratio has been based
on the recommendation valuation
carried out by two independent
valuers, Price Water House Coopers
Pvt Ltd & Bansi S Mehta. Based on this,
HCL Technologies will issue shares to
the shareholders of HCL Infosystems
As part of the demerger,
employees and customers of
the PSO division of HCL
Infosystems will move to
HCL Technologies.
• Shiv Nadar
Chairman, President & CEO HCL
Technologies
S Raman
COO, HCL Technologies
• Ajai Chowdhry
Chairman and CEO
HCL Infosystems
TS Purushothaman
COO, HCL Infosystems
• JV Ramamurthy
President
HCL Infinet