Lux Industries Limited Incorporates Wholly Owned Subsidiary, Lux Global Limited
Lux Industries Limited has incorporated a wholly owned subsidiary (WOS) named Lux Global Limited. The company received the Certificate of Incorporation for the new entity in West Bengal, India, on May 18, 2026.The formation of the wholly owned subsidiary was undertaken pursuant to a Family Settlement Agreement (FSA) entered into among the members of the promoter and promoter group from the Todi Family. This move aims to facilitate the proposed demerger of existing businesses of Vertical Cofthe company.
Lux Global Limited operates in the manufacturing and trading of garments, including hosiery products. The company has not yet commenced business operations.
Subsidiary and Acquisition Details
The incorporation of Lux Global Limited is structured as a related party transaction, as the entity is a WOS of Lux Industries Limited. The directors of the subsidiary include Mrs. Prabha Devi Todi (Promoter), Mr. Navin Kumar Todi (Promoter Group and Executive Director), and Mr. Rahul Kumar Todi (Promoter Group and Executive Director).The details concerning the shareholding and consideration for the subsidiary are as follows:
| Particulars | Detail |
|---|---|
| Name of Entity | Lux Global Limited |
| Date of Incorporation | May 18, 2026 |
| Industry | Manufacturing and trading of garments including hosiery products |
| Total Share Capital | 2,50,000 equity shares |
| Face Value per Share | Rs. 2/- |
| Total Cost of Acquisition | Rs. 5,00,000 (for 100% shareholding) |
| Form of Consideration | Cash consideration |
In this capacity, Lux Industries Limited holds a limited 100% shareholding in the WOS 2.
LUXIND Stock Price Movement
On Monday, Lux Industries Limited shares slipped by 2.64% to close at ₹1331.3, falling sharply from the previous day's close. The stock settled on a volume of 68,655 shares, indicating a bearish session for the textiles sector.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.
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