The demerger will unlock the value of the real estate and hospitality business for the Company's shareholders, enable a differentiated strategy to capture the huge potential of the Indian hospitality sector and attract a distinct set of investors, partners, collaborators and leadership talent focused on the hospitality business. It will also ensure that the real estate business remains unchanged. On completion of the process, the equity shares of the Resulting Company are proposed to be listed on the BSE and the National Stock Exchange of India and the shareholders of the Company (in proportion to their shareholding in the Company) will hold a substantial stake in the Resulting Company, with the balance being held by the Company. The Board will engage professional legal advisors, registered valuers and consultants to implement the above proposal, which shall be subject to necessary statutory and shareholders' approvals.