Globe Textiles (India) Limited — Board Meeting, 11-07-2025: Outcome of Board Meeting

Globe Textiles has announced a board meeting on the approval of a demerger scheme, spinning off its trading business—including brands INDIGENX and ORIJEAN—into a new entity, Morabia Creation Limited. The demerged division contributed a modest Rs. 20.77 lakh (0.04% of total turnover) in FY25. Post-demerger, shareholders of Globe will receive shares in Morabia Creation, which will seek listing on NSE and BSE. The move aims to create a focused trading company, enhance management efficiency, and unlock shareholder value. Promoters will not retain control in the new entity. No cash consideration involved; share exchange only.