Lux Industries Limited (LUXIND) — Board Meeting | 23 April 2026(3 announcements)

Lux Industries Limited announced a family settlement agreement among the AKT, PKT, and KKT families to demerge its three business verticals into separate listed entities, with brand licensing arrangements and new West Bengal-based subsidiaries created to facilitate the restructuring; the Board approved the scheme in principle, assigning management of Vertical A to the AKT family, Vertical B to the PKT family under LIL, and Vertical C to the KKT family, while preserving current management control pending regulatory and shareholder approvals.

Lux Industries announced a board-approved demerger plan splitting its operations into three verticals, with two new subsidiaries to be incorporated in West Bengal and brand licensing agreements with Biswanath Hosiery Mills Limited to safeguard brand rights. The restructuring, formalized through a Family Settlement Agreement dated 22 April 2026, aligns management control of the resulting entities with the AKT, PKT, and KKT family branches. The scheme requires NCLT and shareholder approval and does not involve direct transactions with the listed company. ₹5,00,000 cash consideration per new subsidiary has been outlined.

Lux Industries Limited announced the outcome of its board meeting on 23 April 2026, confirming the in-principle approval of a demerger plan to split its three business verticals into separate listed entities. The board approved the incorporation of two new wholly-owned subsidiaries in West Bengal to facilitate the restructuring and revised brand licensing agreements with Biswanath Hosiery Mills Limited to safeguard intellectual property rights. A committee will oversee the demerger process, with management control assigned to each family branch post-restructuring.