Iris Clothings Limited announced today, July 8, 2026, that its Board of Directors has approved the acquisition of 51% of the equity shares of Infinia Lifestyle Private Limited. The acquisition involves 5,10,000 equity shares of ₹10 each from Mr. Harsh Vardhan Sarda and Mrs. Pooja Sarda for a total purchase consideration of ₹57.12 crore. This amount will be discharged partly by cash (₹25 crore) and partly by issuing up to 77,08,183 equity shares of Iris Clothings Limited at ₹41.67 per share on a preferential basis. The Board also approved the issuance of these 77,08,183 equity shares to the sellers as part of the purchase consideration, subject to shareholder and regulatory approvals. This preferential issue is being undertaken in compliance with the Companies Act, 2013, and SEBI ICDR Regulations. The company will issue a notice to its shareholders to obtain consent for this share issuance. Infinia Lifestyle Private Limited, incorporated on October 30, 2018, operates in the textile and apparel industry, specifically in athleisure wear. Its turnover was ₹30.31 crore in FY 2025-26 and ₹32.12 crore in FY 2024-25. The acquisition is a strategic move by Iris Clothings, which manufactures kidswear under the brand DOREME, to strengthen its market position and broaden its national footprint in the readymade garments industry. The acquisition is expected to be completed within 15 days of the special resolution approval for the preferential issue and receipt of stock exchange approval.
