Mafatlal Industries signs shareholder agreement for apparel exports subsidiary

Mafatlal Industries Limited (MIL) announced on October 3, 2025, a shareholder agreement with its subsidiary, Mafatlal Apparel Exports Private Limited (MAEPL), and Mr. Sagar Birnale, an existing shareholder of MAEPL. The arm's length agreement establishes mutual rights and obligations for MAEPL's management and operations, clarifying the relationship among shareholders.

Under the terms, MAEPL's issued share capital comprises 10,000,000 equity shares of Re. 1/- each. MIL holds 5,100,000 equity shares (51%), while Mr. Sagar Birnale owns 4,900,000 equity shares (49%). MIL retains the right to appoint the majority of directors to MAEPL's board, and its liability is restricted to its shareholding.

The agreement details reserved matters, shareholding, and transfer of shares, with no direct impact on MIL's management or control. No potential conflict of interest is identified, and all transactions are structured as related party transactions conducted at arm's length.