Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2021, this is to inform that the Board of Directors, in their Meeting held on 12th November, 2021, has, inter-alia, in-principally approved the proposal of the amalgamation of RTS Fashions Private Limited, the ultimate holding company of Mirza U.K. Limited, with Mirza International Limited and demerger of Domestic Business of Mirza International Limited into a Resulting Company, on mirror shareholding basis, in such manner as may be deemed fit and proper.
Results are good comparatively but margins are down.
Finally after a long long time some value unlocking taking place
- Long awaited merger of U.K business with the company.( Conflict of interest and Corporate governance issue resolved)
- Demerger of domestic business to be listed separately most probably new company name REDTAPE india limited could be a game changer and create value for shareholders)