The Board of Directors of Lux Industries Limited have approved the scheme of merger of its group entities J. M. Hosiery & Co. Limited and Ebell Fashions Private Limited with Lux Industries Limited.
Pledge of Equity shares of a listed company if invoked by Pawnee will only be treated as acquisition of shares by the Pawnee under the Takeover Code and will liable for open offer obligation as per the provisions of the Code.