Incorporation of Wholly- Owned Subsidiary of the Company
LUXIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lux Industries Ltd has incorporated a new wholly-owned subsidiary named 'Lux and Cozi Limited' in West Bengal, India. The subsidiary was formed on May 22, 2026 with a share capital of Rs. 5,00,000 (2,50,000 equity shares at Rs. 2 each), fully held by Lux Industries. The WOS will operate in the manufacturing and trading of garments including hosiery products. The incorporation is being done pursuant to a Family Settlement Agreement among the Todi family (promoter group) to facilitate the proposed demerger of 'Vertical A' business of the company. The new entity is yet to commence business operations.
The creation of this WOS appears to be the first step toward demerging part of Lux Industries' business, which could restructure the company's operations going forward. Shareholders should watch for subsequent announcements about the actual demerger scheme and share ratio, as this filing only confirms the subsidiary structure without details on the demerger split.