Aastha Spintex Acquires Falcon Yarns for ₹13,151 Lakhs

Aastha Spintex Limited has successfully completed the acquisition of 100% equity share capital of Falcon Yarns Private Limited (FYPL) for a cash consideration of ₹13,151 Lakhs (₹131.51 Crore). FYPL, engaged in textile manufacturing and finishing, specifically hosiery combed cotton yarn and cotton products, now becomes a wholly owned subsidiary of Aastha Spintex. This strategic acquisition aims to grow and expand Aastha Spintex's business by enhancing production capacity, broadening the customer base, strengthening the order book, and driving revenue growth and operational efficiency. The Board of Directors also recommended the appointment of Mr. Shyamsunder Kiranbhai Panchal as an Independent Director on Falcon Yarns Private Limited's Board.