Ganesha Ecoverse Ltd Announces Entry into Share Subscription Agreement with GESL Spinners Private Limited

Ganesha Ecoverse Ltd held a Board meeting on July 8, 2024, to enter into a Share Subscription Agreement with GESL Spinners Private Limited. The target entity, GESL Spinners, is a private limited company with a net worth of Rs. 11.21 Crore, and its business is in the main line of Ganesha Ecoverse's business. The acquisition is a strategic investment, with the funds to be used for repaying debts and purchasing plant and machinery. The acquisition is a cash deal and does not require any governmental or regulatory approvals. The transaction involves related parties, with Vishnu Dutt Khandelwal and Sandeep Khandelwal, promoters and directors of both companies.