Kitex Garments Limited Invests ₹171.23 Crores in Subsidiary Kitex Apparel Parks Limited
Kitex Garments Limited, along with Kitex Childrenswear Limited, has invested an additional ₹171.23 Crores in Kitex Apparel Parks Limited, a subsidiary company. Of the total investment, 70% was contributed by Kitex Garments Limited.Kitex Apparel Parks Limited, incorporated in India on November 18, 2021, has a paid-up capital of ₹601,79,00,000. The company’s turnover from business operations was nil until fiscal year 2024-25, as it commenced business operations in fiscal year 2025-26. The company is engaged in the establishment and operation of a textile manufacturing facility producing yarn, fabrics, and garments including children's wear.
The investment was made through the conversion of advances extended by Kitex Garments Limited into equity shares, at a cost of ₹11986,25,694.00. As a result of the investment, Kitex Garments Limited holds a 70% shareholding in Kitex Apparel Parks Limited, while Kitex Childrenswear Limited holds the remaining 30%. Kitex Apparel Parks Limited remains a material subsidiary.
No governmental or regulatory approvals were required for the transaction, which was completed on March 31, 2026. The transaction was conducted at arm’s length.
| Particulars | Details |
|---|---|
| Cost of Acquisition | ₹ 11986,25,694.00 |
| Shares Acquired | 109965660 |
| Percentage of Shareholding Acquired | 70% |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.