The Board in its meeting held on 08.01.2026 approved participation in the proposed acquisition of M/s S K S Textiles Limited (In Liquidation) and being acquired through IBC Process, subject ....
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Shine Fashions (India) Ltd's board has approved the acquisition of S K S Textiles Limited, a listed NSE company currently in liquidation, through the Insolvency and Bankruptcy Code (IBC) process. The total cash consideration is Rs. 12.6058 Crores, and upon completion Shine Fashions will acquire a controlling stake, making S K S Textiles its subsidiary. S K S Textiles, based in Bhiwandi, Maharashtra, manufactures grey and finished fabrics for shirting and suiting, with clients historically including Raymond, Arvind, Siyaram's, and Digjam. The target has reported NIL turnover for the last three financial years due to its liquidation status. The deal is subject to NCLT approval, IBC and SEBI compliance, and other statutory clearances, with expected completion in 6 to 12 months.
This is a strategic acquisition aimed at expanding Shine Fashions' textile capabilities and product range, but the target is a distressed, zero-revenue entity under liquidation, so near-term earnings impact may be limited. The deal adds asset value and operational capacity in the fabric segment, but execution risk remains given IBC-related uncertainties and regulatory dependencies.