This is to inform you that pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Board at its meeting held today i.e. ....
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Awaiting price reaction for this filing.
On January 8, 2026, the Board of Shine Fashions approved participation in the acquisition of M/s S K S Textiles Limited, an NSE-listed textile company currently in liquidation, through the IBC (Insolvency and Bankruptcy Code) process. The total acquisition cost is Rs. 12.6058 Crores, payable in cash, and upon completion, S K S Textiles will become a wholly-owned subsidiary of Shine Fashions, giving it controlling interest. The target operates in textile manufacturing (grey and finished fabrics for shirting and suiting) with a manufacturing unit in Bhiwandi, but has reported NIL turnover for the last three financial years due to its liquidation status. The Board also approved raising an unsecured loan from Directors/Promoters to meet urgent funding requirements. The acquisition is subject to NCLT, IBC, and SEBI approvals and is expected to complete within 6 to 12 months.
This is a meaningful expansion into the broader textile space for Shine Fashions, but the target is a financially distressed entity with zero recent revenue, making the Rs. 12.61 Crore all-cash deal a high-risk, turnaround-style bet. The promoter loan signal suggests the company may be stretching its finances, which is worth monitoring closely as shareholders weigh the long-term value creation claims against execution and integration risk.