Mumbai, April 24 -- Members of the Todi family promoter group entered into a Family Settlement Agreement on 22 April 2026 to realign ownership, management and business interests. The company clarified it is not a party to the agreement, though the changes will shape its future structure.

The agreement involves three promoter branches - Ashok Kumar Todi (AKT), Pradip Kumar Todi (PKT) and Navin Kumar Todi (KKT) families.

The board has granted in-principle approval for a demerger of the business into three verticals. Under the proposed structure, Vertical A and Vertical C will be spun off into two separate listed entities, while Vertical B will remain with Lux Industries.

Vertical A, aligned with the AKT family, will house brands such as ...