Lux Industries Limited (LIL) is to merge two promoter group companies - JMHL and EFPL

ACQUIRER

Lux Industries

ACQUIRER COMPANY TYPE

Listed

INDUSTRY (ACQUIRER)

Textiles & Garments

 

CITY (ACQUIRER)

Kolkata

COUNTRY (ACQUIRER)

India

 

 

COMPANY

Ebell Fashions

COMPANY TYPE

Unlisted

INDUSTRY

Textiles & Garments

SECTOR

Garments

CITY (TARGET)

Kolkata

COUNTRY (TARGET)

India

 

 

Publicly listed inner wear focused textiles maker Lux Industries Limited (LIL) is to merge two promoter group companies - J. M. Hosiery & Co. Limited (JMHL) and Ebell Fashions Private Limited (EFPL) - with itself. 1,142 Equity Shares of INR 2 each fully paid up of LIL is to be issued for every 100 Equity Shares of INR 10 each fully paid up of EFPL (valuing the target at INR 507.58Cr). 29 Equity Shares of INR 2 each fully paid up of LIL to be issued for every 100 Equity Shares ofINR 10 each fully paid up of JMHL (valuing the target at INR 408.41 Cr). EY served as financial advisor to Lux Industries Limited. JMHL is engaged in the business of manufacturing, marketing, selling and distribution of knitted apparel including hosiery. JMHL has a Total Asset of INR 262.96crores with a Net Worth of INR 91.49 and Turnover of INR 292.85 crores.

Source: https://www.bseindia.com/xml-data/corpfiling/AttachHis/19beadca-0792-4ae9-9910-b4c5d4886cfb.pdf