Kitex Garments Limited: Scheme of Arrangement between Kitex Childrenswear Limited and Kitex Garments Limited

M&A / JV 23 Jun 2026 · In regulatory review· ✓ Verified

Kitex Garments Limited has filed notice for court-convened meetings to obtain approval for a Scheme of Arrangement (likely merger, demerger or capital reconstruction) involving Kitex Childrenswear Limited. The scheme requires separate meetings of shareholders and creditors as per Section 230 of the Companies Act 2013. The notice was filed with the NSE on 23 June 2026. The exact consideration, merger ratio and business rationale have not been disclosed in the available public notice; full terms are expected in the detailed scheme document circulated to shareholders and creditors ahead of the meetings.

Why it mattersThe court convening of separate meetings for shareholders and creditors signals a multi-stakeholder arrangement; the structuring between the two Kitex entities (likely a merger, demerger or reconstruction) will turn on satisfaction of the class test and creditor protection requirements under ss. 230–232 CA 2013.
Counsel—
SectorConsumer & Retail
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