Now the real complication is, it can be anything apart from above mentioned example. So it would be great help if you explain the script a bit so that I can write it as I want.
Is it possible?
If yes,
Requesting you to guide me to write a "Simple" script.
Wold appreciate if you explain it briefly as well
Usually you can use something like 'sed -e "s/[:>]/|/g" -e "s/=/= |/g" filename' but your "/2008 | 5.30 | PM" can't be anchored since it doesn't follow any replacement rules. Maybe somebody can whip up a better example if you provide more elaborate replacement rules...