Approval for Acquisition
SPORTKING · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sportking India Ltd's Board approved two key acquisitions at its meeting on May 16, 2026. First, the acquisition of a majority stake in Marvel Dyers and Processors Private Limited (dyeing/printing/finishing of fabrics) with FY 2024-25 turnover of Rs. 5582.80 Lakhs. Second, acquisition of the manufacturing business of Sobhagia Sales Private Limited (readymade garments) on a slump sale basis with FY 2024-25 turnover of Rs. 9972.27 Lakhs. Both were originally proposed as mergers in October 2024 but restructured as acquisitions. Both are related party transactions at arm's length. Consideration will be in cash and/or shares, with valuation and exact terms to be finalized. The company also announced a dividend of Rs. 1 per share (Rs. 1270.72 Lakhs) subject to shareholder approval, and confirmed its Odisha greenfield expansion (150,000 spindles) is progressing with financial closure completed.
These acquisitions signal Sportking's expansion strategy beyond its core textile business into garment manufacturing. The related party nature of both deals and shift from merger to acquisition structure should be monitored. The deals remain subject to due diligence and regulatory approvals, with final consideration terms not yet crystallized.