India Cements to demerge Super Kings division

India Cements said Tuesday it would demerge the Chennai Super Kings (CSK) division into a wholly-owned subsidiary.

"Our company presently owns Chennai Super Kings (CSK) - BCCI-IPL Franchise 20/20 Cricket Tournament Team. We propose to demerge the said CSK Division to a wholly-owned subsidiary of our company," the company said in a statement filed with the Bombay Stock Exchange (BSE).

India Cements said the proposed demerger has been included for consideration of the board of directors slated for 26 September 2014.

Company officials had earlier said the CSK had given its cement brands good exposure in various markets.