CORPORATE
Filatex Fashions’ mining subsidiary wins export order worth Rs 293-crore
- IBJ Bureau
- Jul 31, 2024
Filatex Mines and Minerals, the mining subsidiary of Filatex Fashions, has received an export order worth Rs 293 crore for supply of 2,97,388 tonnes of white marble.
Filatex Mines will have to supply the white marbles to Bloomflora Ventures’ upcoming 54 hospitals in Africa for seven years. Bloomflora Ventures is engaged in the business of building hospitals.
Filatex Fashions, the parent company of Filatex Mines, is a leading manufacturier of socks and cotton products.
In other developments, the board of directors of Hyderabad-based Filatex Fashions in its annual general meeting held on July 26, 2024, has approved the appointment of Sunil Agarwal as an additional director and CEO of the company in the executive director category.
Mr Agarwal has over ten years of experience and expertise in financial services, advisory, investment advisory and risk management and has been on the boards of some prominent companies.
Earlier, in its extraordinary general meeting on July 15, 2024, Filatex Fashions had approved a five-for-one stock split. Accordingly, the authorised share capital of the company is Rs 850 crore, comprising 850 crore equity shares of Re 1 each. The record date for the stock split has been fixed on August 9, 2024.
Incorporated in 1995, Filatex Fashions specialises in manufacturing of socks and cotton products at its plants in Hyderabad, Telangana. The company offers private label services and the option to use its branded label for socks to renowned brands like FILA, Sergio Tacchini, Adidas, Walt Disney and many other top labels of the fashion world.
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