Deals26 Jun 2024, 07:59 pm
Kamadgiri Fashion Ltd. Announces Transfer of Business Undertaking for Rs. 5.91 Crores
AI Summary
Kamadgiri Fashion Ltd. has announced the transfer of its fabric distribution division and Made-To-Measure business to Tritoma Fashion Lab Private Limited for an aggregate cash consideration of Rs. 5.91 crores. The decision was approved by the shareholders via Postal Ballot on May 28, 2024, and the Business Transfer Agreement was executed on June 25, 2024. The turnover of the unit was Rs. 69.04 Crore, contributing 29.89% to the total turnover in the last financial year. The transaction is expected to be completed within 60-80 days. Tritoma Fashion Lab Private Limited is not a part of the promoter/promoter group/group companies.
Key Highlights
- Kamadgiri Fashion Ltd. is transferring its fabric distribution division and Made-To-Measure business to Tritoma Fashion Lab Private Limited.
- The transaction is worth Rs. 5.91 crores and was approved by shareholders via Postal Ballot on May 28, 2024.
- The Business Transfer Agreement was executed on June 25, 2024.
- The turnover of the unit was Rs. 69.04 Crore, contributing 29.89% to the total turnover in the last financial year.
- The transaction is expected to be completed within 60-80 days and Tritoma Fashion Lab Private Limited is not a part of the promoter/promoter group/group companies.