S Kumars demerges retail biz into Brandhouse Retails
Textile firm S Kumars Nationwide on Wednesday said the firm has demerged its retail business into Brandhouse Retails Ltd.
By PTI |
MUMBAI: Textile firm S Kumars Nationwide on Wednesday said the firm has demerged its retail business into Brandhouse Retails Ltd.
The company received the order from the Bombay High Court for the demerger of retail business into Brandhouse Retails Ltd (BHRL), it informed the BSE.
The order was also filed with Registrar of Companies, Mumbai, on March three and became effective from the same date.
Following the demerger, the firm would give eligible shareholders one equity share of BHRL against five equity shares of SKNL.
In this regard, the company is planning to hold a Board meeting shortly to determine and fix record date for giving away equity of BHRL to SKNL shareholders.
Earlier, on February 22, the Bombay High Court had passed the order for demerger of retail business of the company into 'Brandhouse Retails Ltd'.
In late afternoon trade, shares of the company were trading at Rs 147, down 1.93 per cent on the BSE.
The company received the order from the Bombay High Court for the demerger of retail business into Brandhouse Retails Ltd (BHRL), it informed the BSE.
The order was also filed with Registrar of Companies, Mumbai, on March three and became effective from the same date.
Following the demerger, the firm would give eligible shareholders one equity share of BHRL against five equity shares of SKNL.
In this regard, the company is planning to hold a Board meeting shortly to determine and fix record date for giving away equity of BHRL to SKNL shareholders.
Earlier, on February 22, the Bombay High Court had passed the order for demerger of retail business of the company into 'Brandhouse Retails Ltd'.
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In late afternoon trade, shares of the company were trading at Rs 147, down 1.93 per cent on the BSE.
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