Mandhana Industries to demerge its retail business into an independent entity

25 Nov 2014

Mandhana Industries (MIL), leading manufacturer of textile and garments plans to demerge its retail business into an independent entity, namely Mandhana Retail Ventures (MRVL).

The board of directors of MIL, taking into consideration the recommendations made by the audit committee, SSPA & Co., chartered accountants, the valuer and fairness report of ‘Emkay Global Financial Services’, category I registered Merchant Banker, approved the demerger of retail business into an independent entity, namely, MRVL.

Mandhana Industries is a vertically integrated textile and garment manufacturing company in India. Its operations and facilities enable it to manufacture a wide variety of value-added fabrics and garments through its integrated operations comprising of dyeing of yarns and fabrics, weaving operations for fabrics, processing solutions for both fabrics and garments, garment manufacturing etc.

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