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Metro Brands To Demerge FILA Business As Wholly-Owned Subsidiary
The Demerger of Wholly-Owned Subsidiary FILA by Metro Brands to Impact its Footwear and Apparel Business in South Asia
Photo Credit :
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Metro Brands announced on Thursday that it will be demerging its wholly owned subsidiary, FILA in an exchange filing.
FILA, which deals with the import, trade, sale, marketing, advertising, retailing, and distribution of footwear, accessories, and apparel in countries such as India, Sri Lanka, Pakistan, Bangladesh, Bhutan, and Nepal.
Metro Brands will not be issuing any shares as consideration for this demerger.
As of 31 March 2022, the Demerged Undertaking had a turnover of Rs 77.86 crore.
At 3:06 pm IST on Thursday, the shares of Metro Brands were trading at Rs 780.55, which was a decrease of 0.54 per cent