Axita Cotton Ltd Submits EoI for Varidhi Cotspin Acquisition

Axita Cotton Limited has submitted an Expression of Interest (EoI) for participation in the Corporate Insolvency Resolution Process (CIRP) of Varidhi Cotspin Private Limited. Varidhi Cotspin, a yarn manufacturer with a capacity of 4,442 MTPA, is located in Dholka, Gujarat. Axita Cotton aims to acquire Varidhi through the IBC process to complement its existing operations, strengthen its presence across the cotton value chain, and support its long-term business expansion strategy. This move signifies a strategic opportunity for Axita Cotton to expand its business operations and explore potential synergies in cotton and yarn manufacturing.