Lux Industries Limited has informed the Exchange about Acquisition
LUXIND · price
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Lux Industries Limited has incorporated a new wholly owned subsidiary named 'Lux Global Limited' in West Bengal, India. The WOS has 2,50,000 equity shares with face value of Rs. 2/- each (total cost Rs. 5,00,000), with 100% holding by Lux Industries. The WOS will deal in manufacturing and trading of garments including hosiery products, the same business as the parent company. This incorporation is being done pursuant to a Family Settlement Agreement (FSA) amongst members of the Todi Family (promoter group) for facilitating a proposed demerger of Vertical C of the company. The WOS is yet to commence business operations.
This incorporation sets the stage for a potential demerger of one of Lux Industries' business verticals. While it does not immediately impact shareholders, it signals a structural reorganisation within the company which may have long-term implications for the group's business segments and shareholder value.