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DCM has hived off its IT business division to DCM Infotech from September 16. The deal has been done on going concern basis, and at book value as on September 16, for ₹8 crore.
The hive-off is to unlock value of the IT business unit, DCM Data Systems, and to run it as a separate entity specialising in networking, analytics, cloud and digital technologies, it said. The company plans to attract private equity or strategic partners for the IT arm to achieve desired growth.
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