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The latest update is out from Lux Industries Ltd. ( (IN:LUXIND) ).
Lux Industries said members of the Todi promoter family have executed a family settlement agreement that will realign control among family branches, though the company itself is not a party to the pact. The board has examined implementation options and is moving to reshape the business and governance structure in line with the new family arrangement.
The board granted in-principle approval to a demerger under which businesses in Verticals A and C will be hived off into two separately listed companies, each led by different Todi family branches, while Vertical B remains within Lux Industries under the Pradip Kumar Todi family’s control. To facilitate the reorganisation, the board approved the incorporation of two wholly owned subsidiaries and cleared a revised brand licensing agreement for Lux-branded products with Biswanath Hosiery Mills as well as new licensing agreements for non-Lux brands with other group entities, aimed at safeguarding brand continuity and operational stability.
More about Lux Industries Ltd.
Lux Industries Ltd., based in Kolkata, operates in the hosiery and innerwear industry, marketing products under well-known brands including Lux, ONN, Lyra and GenX. The company focuses on mass and mid-market segments across India, relying heavily on brand-led distribution and licensing arrangements with group entities for both Lux and non-Lux labels.
Average Trading Volume: 10,498
Technical Sentiment Signal: Buy
Current Market Cap: 43.94B INR
See more insights into LUXIND stock on TipRanks’ Stock Analysis page.