Globale Tessile Limited, incorporated in Gujarat in 2017, operates primarily in the trading of textile products. As part of a 2024 Scheme of Arrangements, the company received the Traditional Textile Processing Division from Mahalaxmi Rubtech Limited and Mahalaxmi Fabric Mills Private Limited. This transfer, effective April 1, 2024, led to the issuance of 1,06,20,275 new equity shares to the shareholders of Mahalaxmi Rubtech Limited, aligning shareholdings on a 1:1 basis.
The strategic acquisition of the Traditional Textile Processing Division enhances Globale Tessile's capabilities and market position within the textile industry. The company's focus on textile trading positions it to capitalize on growth opportunities in the sector.
