Iris Clothings buys 51% of athleisure firm Infinia for US$7.76M
What's the deal? Iris ClothingsDealroom has a profile for this one. Try Dealroom → has approved the acquisition of a 51% equity stake in Infinia Lifestyle for US$7.76M. The board cleared the transaction on July 8, 2026, buying 5.10 lakh shares to make Infinia a subsidiary.
The terms: Iris will pay US$3.4M in cash and settle US$4.36M via a share swap. That swap involves issuing up to 77,08,183 equity shares on a preferential basis at US$0.57 apiece to sellers Harsh Vardhan Sarda and Pooja Sarda, subject to shareholder and regulatory approval.
What's the endgame? Iris operates in kidswear under its DOREME brand, while Infinia makes athleisure wear. The deal lets Iris diversify its product portfolio and widen its national footprint in India's readymade garments industry.
The numbers: Infinia reported unaudited turnover of US$4.12M for FY2025-26, down from US$4.36M the prior year but above US$3.62M in FY2023-24. The company was incorporated in October 2018.
Why now? The acquisition is expected to close within 15 days of the later of shareholder approval for the preferential issue or in-principle clearance from the stock exchanges.
The signal: The move reflects how apparel makers are consolidating across categories, using cash-and-stock structures to expand beyond a single segment.
Read more: Business Upturn
