Deals23 Apr 2024, 01:41 am
Kamadgiri Fashion Ltd: Approval for Business Undertaking Transfer to Tritoma Fashion Lab Private Limited for Rs.5.91 crores
AI Summary
The Board of Directors of Kamadgiri Fashion Ltd, in compliance with SEBI regulations, has approved the proposed transfer of its fabric distribution division and Made-To-Measure business to Tritoma Fashion Lab Private Limited for a cash consideration of Rs.5.91 crores. The transaction is a slump sale and is subject to shareholder approval. Theturnover of the unit was 29.89% of the total turnover last financial year. The expected completion time is 60-80 days.
Key Highlights
- Transfer of business undertaking to Tritoma Fashion Lab Private Limited for Rs.5.91 crores
- Approval received from the Board of Directors
- Transaction is a slump sale subject to shareholder approval
- Expected completion time: 60-80 days
- Revenue contribution of the unit last financial year: 29.89%