The Board of Directors of DOMS Industries Limited has, during their meeting on Wednesday, March 20, 2024, granted approval for an investment of ₹ 51,00,000 (Rupees Fifty One Lakhs Only) towards acquiring a 51% stake in SKIDO Industries Private Limited (‘SKIDO’). This investment entails subscribing to 5,10,000 (Five Lakhs Ten Thousand) Equity Shares priced at ₹ 10 (Rupees Ten) each. Additionally, the Board has endorsed the execution of the Share Subscription Agreement and Shareholders Agreement to formalize the aforementioned transaction, contingent upon necessary approvals and compliance with applicable laws.
SKIDO was established on November 22, 2023, with a principal aim to operate in the designing, manufacturing, marketing, and sale of various bags, pouches, and related items. The Promoters of SKIDO boast over twenty years of expertise in this industry. Upon completion, this acquisition will enable DOMS to broaden its footprint in the back-to-school segment by venturing into product categories aligned with the evolving needs of children, adolescents, and young adults throughout the academic year.