Corporate Action23 Apr 2026, 09:11 pm
Lux Industries Board Approves In-Principle Demerger & Family Settlement
AI Summary
Lux Industries Ltd's Board of Directors, in a meeting on April 23, 2026, informed about a Family Settlement Agreement (FSA) among the promoter Todi Family. Pursuant to the FSA, the Board granted in-principle approval for a scheme of demerger. This scheme will trifurcate the company's business into three verticals (A, B, C). Verticals A and C will be demerged into two new, subsequently listed companies, led by the AKT Family and KKT Family respectively. Vertical B will remain with Lux Industries, led by the PKT Family. The Board also approved the immediate incorporation of two new wholly-owned subsidiaries to facilitate the demerger and a revised brand licensing agreement with Biswanath Hosiery Mills Limited.
Key Highlights
- Board gives in-principle approval for a scheme of demerger.
- Demerger follows a Family Settlement Agreement among promoters.
- Business to be trifurcated; two verticals to be demerged and listed.
- Two new wholly-owned subsidiaries to be incorporated for demerger.
- Revised brand licensing agreement approved to safeguard brand rights.