Lux Industries Limited's board of directors has approved a comprehensive restructuring plan following a Family Settlement Agreement among the Todi family promoter groups. The board meeting held on April 23, 2026, addressed significant corporate developments that will reshape the company's organizational structure.

Family Settlement Agreement Details

The promoter and promoter group members from the Todi Family entered into a Family Settlement Agreement on April 22, 2026. The agreement involves three family branches: AKT Family, PKT Family, and KKT Family, comprising 29 members across promoter and promoter group categories. The company itself is not a party to this agreement.

In-Principle Demerger Approval

The board granted in-principle approval for a scheme of demerger, building upon the business trifurcation previously approved on November 22, 2023. The proposed structure will create three separate verticals:

Vertical A will be demerged into a new listed company led by Ashok Kumar Todi or another AKT Family member. Vertical B will remain with Lux Industries Limited under PKT Family leadership through Pradip Kumar Todi. Vertical C will form another new listed entity managed by Navin Kumar Todi or a KKT Family representative.

Subsidiary Incorporation and Brand Licensing

To facilitate the demerger process, the board approved incorporating two wholly-owned subsidiaries in West Bengal with names containing 'Lux'. Each subsidiary will have an initial share capital of ₹5,00,000 comprising 2,50,000 equity shares with a face value of ₹2 each.

The board also approved revised brand licensing agreements with Biswanath Hosiery Mills Limited for Lux-related brands and separate agreements with three other entities for non-Lux brands including ONN, Lyra, and GenX. The principal "LUX" trademark will remain the exclusive property of BHML and be perpetually licensed to all entities for corporate purposes.

Committee Formation and Next Steps

A committee comprising Chairman Ashok Kumar Todi, Managing Director Pradip Kumar Todi, and Independent Directors Ratnabali Kakkar and Rusha Mitra has been constituted to deliberate the proposed demerger. The implementation requires approvals from regulatory authorities, shareholders, and other stakeholders.

The board meeting commenced at 6:00 p.m. and concluded at 7:40 p.m. on April 23, 2026. Appropriate public disclosures will be made upon formal board approval of the demerger scheme, ensuring compliance with SEBI Listing Regulations and applicable laws.

Lux Industries Limited has responded to a surveillance inquiry from the Bombay Stock Exchange regarding recent significant movement in its stock price, clarifying that the company has no undisclosed price-sensitive information.

BSE Surveillance Inquiry Response

In a communication dated April 08, 2026, the company addressed BSE's inquiry reference L/SURV/ONL/PV/APJ/2026-2027/3556 seeking clarification on the notable price movement of Lux Industries' securities on the exchanges.

Regulatory Compliance Confirmation

The company emphasized its adherence to regulatory requirements, stating that it remains in compliance with Regulation 30 and other applicable regulations under the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Lux Industries confirmed that it has been promptly informing stock exchanges of all material events, announcements, and price-sensitive information that could impact company operations or performance.

No Material Undisclosed Information

While acknowledging that it has also noticed an increase in its security price in recent times, the company made clear that there is no undisclosed or price-sensitive information requiring disclosure. The response specifically stated that there are no impending announcements or corporate actions that need to be communicated to the exchanges at this time.

The company's position is that there is currently no information in its possession that, in its opinion, may have a bearing on the price behavior of its scrip and requires reporting or disclosure to stock exchanges.

Corporate Communication Details

The response was digitally signed by Company Secretary and Compliance Officer Smita Mishra on April 08, 2026, at 21:33:17 +05'30'. The communication was sent from the company's corporate office located at PS Srijan Tech-Park, 10th Floor, DN-52, Sector-V, Saltlake, Kolkata.