Deals24 Jan 2024, 11:23 pm
GINNI FILAMENTS LTD. TO SELL SPINNING KNITTING AND PROCESSING UNDERTAKING TO RSWM LTD
AI Summary
The company has signed a binding term sheet with RSWM Limited for the slump sale of its Spinning, Knitting, and Processing undertaking on a going concern basis for a lump sum consideration of Rs. 160 crores, subject to fulfillment of conditions precedent and other closing conditions.,
Key Highlights
- Slump sale of Spinning, Knitting, and Processing undertaking to RSWM Limited
- Consideration of Rs. 160 crores
- Binding Term Sheet executed on December 2023
- Transaction expected to be completed within 90 days
- RSWM Limited is a company engaged in textile business