Lux Industries has received approval for scheme of merger of JM Hosiery (JMHL) and Ebell Fashions (EFPL) with the company. Based on the proposed merger, Lux Industries will issue around 48 lakh new shares as consideration of the merger. Based on FY-18 numbers, earning per share (EPS) on post-merger basis will grow by around 24%. The Board of Directors of the company at their meeting have approve the same.
JMHL is engaged in the business of manufacturing, marketing, selling and distribution of knitted apparel including hosiery. EFPL is engaged in the business of manufacturing, marketing, selling and distribution of knitted apparel for women’s.
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.
