Globale Tessile Share Price

Globale Tessile Limited was incorporated in Gujarat as a Private Limited Company, with the name and style of Globale Tessile Private Limited pursuant to a Certificate of Incorporation dated August 01, 2017, issued by the Registrar of Companies, Ahmedabad. The Company commenced its business on May 18, 2017. In 2024, the Scheme of Arrangements involving the Demerger between Mahalaxmi Rubtech Limited (MRT) Mahalaxmi Fabric Mills Limited (MFML) and the Company and their respective Shareholders and Creditors was implemented, where the Traditional Textile Processing Division at Narol, Ahmedabad and Wind Power Division of MRT along with existing investment of MRT in its Wholly Owned Subsidiary Company namely Mahalaxmi Exports Private Limited was vested into MFML. Secondly, the Trading Textiles Division of MRT was demerged into the Company w.e..f 01st April, 2022 as a going concern basis and the Scheme of Demerger became effective from 01st April, 2024. Accordingly, in consideration of the Scheme, the Company has issued and allotted 1,06,20,275 new Equity Shares of Rs. 10/ each to the Shareholders of Mahalaxmi Rubtech Limited in the ratio of 1 (One) new Equity Share, fully Paidup, of the Company for every 1 (One) Equity Shares held by them in Mahalaxmi Rubtech Limited. The Company is primarily engaged in the business of trading in textile products.