The resignation will be effective from March 31, 2023, at the end of business hours.
As per DRHP, the market for BPC products in India is expected to grow from approximately $17 billion in 2021 to approximately $30 billion in 2026.
During the last financial year the total Textiles & Apparel exports including Handicrafts stood at USD 44.44 billion.
The Securities and Exchange Board of India (SEBI) is the regulatory body for securities markets in India.
The company has paid cash consideration of Rs2.16 crore for this acquisition.
Given Garnett Wire's presence in the UK and neighbouring regions, the goal of the acquisition is to expand business for the Company's products abroad.
The customer-centric approach will enable ICIL to be more flexible and strengthen customer service levels resulting in a strong Global Supplier and Brand in the Home Textile Industry.
The company informed that the NCLT, Jaipur bench has approved the Scheme of Amalgamation of Sangarn Lifestyle Ventures.
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