Mandhana to demerge retail business into separate entity

Mandhana Industries (MIL), leading manufacturer of textile and garments has announced the demerger of its retail business into an independent entity, namely Mandhana Retail Ventures (MRVL). The company would file for a demerger scheme with the stock exchanges and the High Court. And subject to approval, the retail business comprising its Being Human brand and other brands, would be known as Mandhana Retail Ventures. After demerger, every three shares of Mandhana Industries would receive two shares of Mandhana Retail Ventures, company said in a statement.