Real estate and infrastructure developer Anant Raj Ltd (ARL) announced a significant corporate restructuring today, July 22, 2026, aimed at separating its rapidly growing data centre and cloud services operations from its core real estate business. The board, in a meeting held on Tuesday, July 21, 2026, cleared a Composite Scheme of Arrangement that will lead to the independent listing of Ashok Cloud Private Limited.
Shares of Anant Raj Ltd saw a nearly 3% rise in early trading following the announcement, reaching Rs 627.95 against a previous close of Rs 609.60. The firm's market capitalization increased to Rs 22,463 crore.
The Demerger Explained
Under the approved scheme, Anant Raj will first consolidate all its data centre and cloud-related operations into a single entity. This business will then be demerged into Ashok Cloud Private Limited, which is set to emerge as a dedicated digital infrastructure and cloud services company. Ashok Cloud will subsequently be listed on stock exchanges, operating independently from Anant Raj's traditional real estate ventures.
The company stated that this restructuring aims to unlock value for shareholders by allowing both businesses to pursue distinct growth strategies, attract sector-specific investors, and operate with greater focus. Anant Raj Ltd will continue to concentrate on its core real estate and infrastructure projects, including residential townships, luxury housing, commercial developments, and hospitality assets.
Ashok Cloud's Focus and Services
Ashok Cloud Private Limited will house the group's entire digital infrastructure portfolio. Its service offerings are expected to include:
- Advanced data centres
- Co-location facilities
- Sovereign public cloud solutions
- AI-ready cloud infrastructure
- Disaster recovery services
- Cloud migration and data backup solutions
- Other related digital offerings
Shareholder Entitlement
As part of the demerger, eligible shareholders of Anant Raj Ltd will receive one fully paid-up equity share of face value Rs 2 each in Ashok Cloud Private Limited for every one fully paid-up equity share of face value Rs 2 held in Anant Raj Ltd. This 1:1 share entitlement ensures that existing shareholders benefit directly from the separation.
Anant Raj clarified that this restructuring will not lead to the cancellation of its existing shareholding in Ashok Cloud Private Limited. Even after the scheme becomes effective and Ashok Cloud is listed, it will continue to operate as a subsidiary of Anant Raj.
Regulatory Approvals
The Composite Scheme of Arrangement is subject to several regulatory approvals. These include clearances from the National Company Law Tribunal (NCLT) under Sections 230 to 232 of the Companies Act, 2013, along with other necessary statutory and regulatory consents.