Metro Brands on Thursday announced the demerger of its FILA business through an exchange filing. FILA involves business of importing, trading, selling, marketing, advertising, retailing and distribution of footwear, accessories and apparel in India, Sri Lanka, Pakistan, Bangladesh, Bhutan and Nepal.
FILA is a wholly owned subsidiary of the company but Metro Brands will not issue any shares in consideration for the demerger.
The turnover of the Demerged Undertaking as of March 31, 2022 was Rs 77.86 crore.
Metro Brands shares
The shares of Metro Brands on Thursday at 3:06 pm IST were at Rs 780.55, down by 0.54 per cent.
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