The Chennai-based networking solutions provider Gemini Communication plans to demerge its system integration business comprising enterprise convergence group, wireless and telecom and 4S divisions to a separate company.
However, the company will retain the technical services division to the telecom sector; PointRed Telecom and radio frequency identification (RFID) businesses.
It may be noted that the company's board has proposed to make a preferential allotment of up to 97,18,000 warrants with option to convert them into 97,18,000 equity shares for working capital requirement.