Incorporation of Wholly-Owned Subsidiary of the Company
LUXIND · price
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Lux Industries Ltd has incorporated a new wholly-owned subsidiary named "Lux Global Limited" in West Bengal, India, effective May 18, 2026. The WOS has 2,50,000 equity shares at Rs. 2/- each, fully held by Lux Industries. This incorporation is part of a Family Settlement Agreement among Todi Family members and is intended to facilitate the proposed demerger of "Vertical C" business operations from the company. The new subsidiary has not yet commenced business operations and will focus on manufacturing and trading of garments including hosiery products.
This is a preparatory step toward a potential demerger of part of Lux Industries' business. While no immediate impact on shareholders, it signals upcoming corporate restructuring which could affect the company's future earnings structure and shareholder value.