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Bannari Amman Spinning becomes subsidiary of Murugan Enterprise

20 Nov 2020 Evaluate

Bannari Amman Spinning Mills has become a subsidiary of Murugan Enterprise with effect from November 19, 2020, consequent to the acquisition of 779500 equity shares of Rs 10 each, thereby constituting 54.48% in aggregate of the Paid-up Share Capital of the Company.

Bannari Amman Spinning Mills, is a vertically integrated textile company engaged in the manufacture of cotton yarn, woven and knitted fabrics, finished garments, home textiles and wind power generation.

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