Lux Industries has received an approval for further investment in equity shares of Artimas Fashions (presently wholly owned subsidiary of the company) who proposes to allot further shares to selected group of person on Private Placement basis including the company. The board of directors at its meeting held on March 13, 2018 has approved for the same.
Further, as a result of this allotment Artimas Fashions will not be wholly owned subsidiary of the company, it will remain the subsidiary of the company.
Lux Industries manufactures and sells knitwear in India. The company offers a range of innerwear for men, women, and children. It also exports its products to the Middle East countries.
