Globe Textiles (India) Limited has informed the Exchange regarding Board meeting held on July 11, 2025.
GLOBE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.8 pts less than Nifty Microcap 250 and 1.4 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Globe Textiles (India) Limited, at its meeting on July 11, 2025, approved a Scheme of Arrangement to demerge its trading business — comprising the INDIGENX and ORIJEAN brands — into Morabia Creation Limited. 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. The scheme is share-based (no cash involved), with shareholders of Globe Textiles set to receive shares in Morabia Creation in a share entitlement ratio that is yet to be disclosed. Morabia Creation will seek listing on NSE and BSE post-demerger, and promoters of Globe Textiles will not retain control in the resulting entity. The appointed date is proposed as April 1, 2025, and the scheme now moves to NCLT Ahmedabad for approval.
For Globe Textiles shareholders, the impact on the core business is minimal since the demerged division contributes less than 0.1% of turnover. The stock price is unlikely to react meaningfully, but shareholders will indirectly get shares in a new listed entity (Morabia Creation) once the scheme is approved and the share ratio is announced.