New Delhi, Nov 02: In a bid to turn around the loss making company and repay its Rs 415 crore debt, DCM on Saturday announced a major restructuring plan involving the sale of DCM Engineering products business to FIs and new investors for Rs 100.6 crore as well as transferring its real estate rights to DCM Estate and Infrastructure for Rs 225.8 crore. Besides, Rs 74.5 crore would be raised from divestments and sale of investments and Rs 14.1 crore from the sale of surplus land at Hissar (Haryana) and income from textile operations, DCM Ltd Chairman Vinay Bharat Ram told a press conference here.

"DCM Group restructuring has received formal approval of the Delhi High Court. DCM will raise over Rs 400 crore from various divestments and real estate projects, which will be used to pay off debts, making DCM effectively debt free," he said.
Post restructuring, DCM would focus on IT business, which covers technology infrastructure management and services in the area of Integrated Circuit design and embedded products.
The scheme of arrangements for restructuring involves sale of DCM Engineering products business -- currently a division under DCM Ltd -- for a consideration of Rs 142.6 crore. Bureau Report