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Cravatex gets nod to sell 100% stake in Cravatex Brands

20 Oct 2022 Evaluate

Cravatex has received an approval for the sale / transfer / disposal / divestment of its 100% shareholding held in Cravatex Brands (CBL), a material subsidiary of the Company, to Metro Brands, subject to approval of the Shareholders of the Company. The total consideration payable is based on the enterprise value of CBL, i.e., Rs 202.17 crore. The Board of Directors of the Company, at its Meeting held on October 19, 2022, has granted its approval for the same. 

Cravatex imports and distributes products of various brands, such as Johnson, Horizon, Vision, Body Solid, and Magnum. The company also distributes sports shoes and apparels, tennis balls, tennis rackets, and massage chairs and accessories.

Peers
Company Name CMP
Redington 345.95
Adani Enterprises 2681.50
Amrapali Industries 34.25
Maxgrow India 180.95
Rashi Peripheral 820.35
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