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ITC Infotech could go public, says Deveshwar

March 23, 2007 13:01 IST

ITC Limited could take its IT business -- ITC Infotech -- public, its Chairman Y C Deveshwar said on Friday.

"It (ITC Infotech) is structured as a separate company, not as a division. That's the only business that we structured as a separate company. That indicates that at a point of time, we could (take ITC Infotech public)," he said.

Deveshwar was asked by reporters on the sidelines of a Confederation of Indian Industry-organised conference in Bangalore whether the company is taking ITC Infotech to an IPO (Initial Public Offering) route.

"Nothing is planned as of now", Deveshwar said.

"But it (ITC Infotech) is structured differently. You can see that. Every other business is a division. The reason (for structuring ITC Infotech as a separate company) is that over a period of time, we would like to have the option of remunerating our people...the same way as industry practice". 

"But we don't know yet whether that (making ITC Infotech public) is the right route. But if we did want to, we could," he added.

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