M&A Critique

Mirza International Limited: Unlocking Value for Whom?

The Board of Directors of Mirza International Limited (“MIL”) has recently announced a consolidation of a promoter group entity i.e., RTS Fashions Private Limited which is predominantly engaged in selling goods manufactured by MIL in the international market. Through the same scheme, MIL will also demerge and separately list its branded business which is carried under the Redtape brand. The management believes these steps will unlock the value for shareholders. Let us examine whether the re-structuring will unlock the value, if yes, for whom?

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Aniruddha Jain