Ganesha Ecoverse Ltd to Merge with Associate Company GESL Spinners, Resulting Entity to be Listed on BSE-SME Platform

Ganesha Ecoverse Ltd, a company dealing with plastic and textile products, has announced that its Board of Directors has accorded in-principle approval for the merger of the Company into GESL Spinners Private Limited (GSPL), an associate company. The merger is deemed more appropriate as it would facilitate the merged entity to continue to avail the existing taxation and financial benefits available to GSPL and is in the best interest of the Company and its shareholders. The resulting entity shall be listed on the BSE-SME platform and there shall be no dilution of shareholders’ rights.