Detailed Coverage

Anant Raj Restructures: Data Centre Business to Demerge into New Listed Entity

Anant Raj Limited's Board of Directors has approved a significant two-step composite scheme of arrangement. This plan involves merging Anant Raj Cloud Private Limited (ARCPL) into Anant Raj Limited (ARL), followed by demerging the Data Centre Business into a new entity, Ashok Cloud Private Limited (ACPL). ACPL will subsequently be listed on the BSE and NSE.

Reader Takeaway: Strategic separation of data centres from real estate to unlock value; direct listing of ACPL shares provides new investment avenue.

What just happened

The company announced a composite scheme of arrangement. First, Anant Raj Cloud Private Limited will merge with Anant Raj Limited. Then, the Data Centre Business will be demerged from Anant Raj Limited into a newly formed entity, Ashok Cloud Private Limited. Shareholders of Anant Raj Limited will receive shares in Ashok Cloud Private Limited as part of this process.

Why this matters

This restructuring is designed to provide independent valuation and dedicated management focus for both the Real Estate and Data Centre businesses. By separating the fast-growing Data Centre vertical, Anant Raj aims to unlock potential value for shareholders. The listing of ACPL will offer investors direct exposure to the data centre operations.

The backstory

Anant Raj Limited has been evolving its business, with the Data Centre Business emerging as a distinct vertical. The company's financial snapshot as of March 31, 2026, shows Anant Raj Limited with a paid-up capital of ₹71.98 crore and net worth of ₹4,471.64 crore. The demerged undertaking, the Data Centre Business, reported a turnover of ₹145.90 crore.

What changes now

Following the scheme's effectiveness, Anant Raj Limited's shareholders will receive 1 fully paid-up equity share of ACPL (face value ₹2) for every 1 fully paid-up equity share of ARL (face value ₹2) they hold. Existing ARL shareholders will maintain 100% ultimate economic interest, with ACPL having a direct shareholder base while ARL retains an indirect stake.

Risks to watch

The scheme's completion is contingent on obtaining various regulatory approvals, including from shareholders, creditors, stock exchanges (BSE and NSE), SEBI, and the National Company Law Tribunal (NCLT). The timeline for implementation will depend on these approvals.

Peer comparison

While specific peer data isn't provided in the filing, the demerger strategy is common among diversified conglomerates looking to create focused entities for specialized businesses like data centres, which often command different valuations and growth trajectories compared to traditional real estate.

Context metrics (as on March 31, 2026)

• Anant Raj Limited (ARL): Paid-up Capital ₹71.98 Cr, Turnover ₹1,491.52 Cr, Net Worth ₹4,471.64 Cr.
• Anant Raj Cloud Private Limited (ARCPL): Paid-up Capital ₹2.50 Cr, Turnover ₹136.20 Cr, Net Worth ₹49.45 Cr.
• Ashok Cloud Private Limited (ACPL): Paid-up Capital ₹74.91 Cr, Turnover ₹0.00 Cr, Net Worth ₹0.04 Cr.
• Demerged Data Centre Business: Turnover ₹145.90 Cr.

What to track next

Investors should closely monitor future announcements regarding the NCLT process, shareholder and creditor meeting dates, and the final effective date of the scheme. The market's reaction to the proposed listing of ACPL will also be a key indicator.