Globe Textiles (India) is all set to demerge its online business comprising the INDIGENX and ORIJEAN brands and move it into a new company called Morabia Creation. To implement the same, the company has received approval for a strategic Scheme of Arrangement involving the demerger. This strategic move is to create an independent and focused trading entity to better leverage market potential, improve management efficiency, unlock shareholder value, and facilitate differentiated business strategies. The Board of Directors of the company in their meeting held on July 11, 2025 have approved the same.
Post-demerger, Morabia Creation will be listed, in compliance with SEBI regulations. Further, shareholders of Globe Textiles (India) will be allotted shares in Morabia Creation in a specified entitlement ratio. Promoters of Globe Textiles will not retain control in the resulting company and there is no cash consideration. The consideration is through issue of shares by Morabia Creation.
Globe Textiles (India) is engaged in manufacturing of Garments, cotton printed fabrics, home textiles and fancy fabrics.
| Company Name | CMP |
|---|---|
| Welspun Living | 130.15 |
| Vardhman Textiles | 636.30 |
| Arvind | 393.95 |
| K.P.R. Mill | 955.15 |
| Page Industries | 37380.40 |
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