Alok Industries sells Czech subsidiary Mileta a.s.

Alok Industries International Limited (AIIL), a step-down wholly owned subsidiary of Alok Industries Limited, has entered into a Share Purchase Agreement with CRESCON, a.s. for the sale of its entire 100% equity stake in Mileta a.s. The transaction is valued at an aggregate cash consideration of €558,825. CRESCON, a.s. is an independent entity, not belonging to Alok Industries' promoter or promoter group.

Mileta, engaged in textile manufacturing and processing, contributed approximately 4.11% to Alok Industries’ consolidated turnover for FY 2024-25, reporting a turnover of CZK 421,339 ths. Its net worth as of March 31, 2025, was CZK 161,553 ths., against the parent company's consolidated negative net worth of Rs. 16,755.15 crore.

The completion of this transaction, which is not a related party transaction, is subject to customary closing conditions and is anticipated by March 2026. Upon finalization, Mileta will no longer be a subsidiary of Alok Industries.