SP Apparels Ltd. (SPAL) has signed a definitive agreement to acquire 100 percent stake of Young Brand Apparel along with an apparel unit in Palladam and land and buildings, all in Tamil Nadu for Rs 223 crore. SP Apparels will acquire all these assets from Bannari Amman Spinning Mills Limited
Bannari Amman Spinning Mills Ltd recently entered into a Memorandum of Understanding (MoU) for the sale and transfer of its garment unit located at Palladam Hi-Tech Weaving Park, Tamil Nadu, along with 6.43 acres of land at SIPCOT, Perundurai. The financial overview reveals a turnover contribution of Rs 43.95 crore (3.13%) and a net worth […]
In a stock exchange filing, Bannari Amman Spinning Mills Ltd (BASML) has said that SP Apparels Ltd has expressed interest in buying a few of its textile assets. Bannari Amman will utilise the funds received from the sales of these assets to reduce its borrowings. However, the company has not disclosed the transaction value The […]