Globe Textiles (India) Limited has informed the Exchange about Demerger
GLOBE · price
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Globe Textiles (India) Limited's board, on July 11, 2025, approved a scheme to demerge its trading business — comprising the INDIGENX and ORIJEAN brands — into Morabia Creation Limited under Sections 230–232 of the Companies Act, 2013. The demerged division had a turnover of about Rs. 20.77 Lakhs in FY25, which is just 0.04% of the company's total turnover, making this a small carve-out rather than a major restructuring. The appointed date is April 1, 2025, and the scheme is subject to NCLT Ahmedabad approval, shareholder and creditor consent, and other regulatory clearances. Shareholders of Globe Textiles will receive shares in Morabia Creation Limited in a share entitlement ratio (no cash consideration), and Morabia Creation will seek listing on NSE and BSE. Promoters of Globe will not retain control in the resulting entity.
Since the demerged unit accounts for only 0.04% of turnover, the near-term impact on Globe Textiles' financials is likely minimal, though shareholders will get shares in a newly listed entity. The demerger is still subject to NCLT and other approvals, so the final share ratio and timeline remain uncertain.