Himatsingka Seide has received an approval to disinvest 100% holding in Himatsingka Europe, wholly owned subsidiary (WOS) and sell the same to Himatsingka Holdings NA Inc, wholly owned subsidiary at a fair market value. Post dis-investment of the company's holdings, Himatsingka Europe will consequentially become a wholly owned step down subsidiary of Himatsingka Seide under existing wholly owned subsidiary Himatsingka Holdings NA Inc. The Board of Directors of the company at their meeting held on November 26, 2018, approved the same.
The Board has also given approval to merger of Giuseppe Bellora Srl, a step-down wholly owned subsidiary with Himatsingka America Inc, another step-down wholly owned subsidiary. Post this merger, Giuseppe Bellora Srl will cease to be a step-down wholly owned subsidiary.
Himatsingka Seide is in the business of manufacturing natural silk and silk blended fabrics, silk woven yarn, etc. Its product range includes decorative fabrics for home furnishings mainly bed linen, bridal wear, fashion fabrics for men and women wear etc.
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PDS | 435.00 |
Vardhman Textiles | 438.65 |
Arvind | 332.20 |
Welspun Living | 150.50 |
Alok Inds | 26.59 |
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