S P Apparels updates on transfer of retail operations to wholly-owned subsidiary

5 Jan 2022 , 11:53 AM

S P Apparels Ltd had earlier informed the formation of wholly owned subsidiary Company and moving its retail business in to the newly formed WOS named “S.P.Retail Ventures Limited”.

According to the filing, the company formed subsidiary as hiving off retail operations into S.P. Retail Ventures Limited and that has been completed by executing slump sale agreement between S.P.Apparels Limited and S.P.Retail Ventures Limited at the value of Rs53.50cr.

At around 11:55 AM, S P Apparels was trading at Rs446.75 apiece up by Rs1.45 or 0.33%.

Previously, the scrip ended at Rs445.30 apiece on the BSE.