The Board of Directors of Lux Industries Limited have approved the scheme of merger of its group entities J. M. Hosiery & Co. Limited and Ebell Fashions Private Limited with Lux Industries Limited.
Lux Industries Limited (Lux), incorporated in 1995 is one of the largest players in the hosiery business in India. Products include Men’s, Women’s & Kids Innerwear, Winterwear, Socks & Slacks for Women in varied colours and designs. LUX has a presence across the globe with exports to 47 countries.
J.M Hosiery & Co. Limited (JM) is engaged in the business of manufacturing, marketing, selling and distribution of knitted apparel including hosiery. The Manufacturing unit of the company is in Tiruppur in the state of Tamil Nadu.
Ebell Fashions Private Limited (Ebell) is engaged in the business of manufacturing, marketing, selling and distribution of knitted apparel for women’s. The Manufacturing unit of the company is in Dankuni, Kolkata.
The prime rationale behind the merger could bring the growing brands under the listed entity. JM operates into premium segment under the brand “Gen X” and Ebell is into rapidly growing women knitted apparels. In future, this merger can pave the way for Lux to have premium products in all segments in its product portfolio. The appointment date for the transaction is 1st April 2018.
Shareholding Pattern of Lux Industries
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