Board of Cravatex approves investment Rs 5 cr in subsidiary

At meeting held on 31 May 2021

The Board of Cravatex at its meeting held on 31 May 2021 has approved investment amount aggregating Rs 5.01 crore in Cravatex Brands, a material subsidiary of the company by way of subscription to 2,97,364 nos. of 0.001% compulsorily convertible preference shares with face value of 100 each at a price of Rs 168.74 each which Cravatex Brands has proposed to offer, issue and allot through a rights issue.

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