Globe Textiles (India) Limited — Board Meeting, 08-03-2025: Outcome of Board Meeting

The Management Committee of Globe Textiles (India) Limited has approved an investment to acquire up to 8,42,996 equity shares of Globe Denwash Private Limited at ₹170 each, totaling approximately ₹14.33 Crore. This acquisition will result in Globe Denwash becoming a wholly-owned subsidiary. The funding will come from the proceeds of a recent rights issue. Globe Denwash has a net worth of ₹13.02 Crore and reported a revenue of ₹42.61 Crore for the fiscal year 2023-24. This strategic move enhances Globe's capabilities in garment processing and environmental compliance.