Ginni Filaments has signed Business Transfer Agreement (BTA) with RSWM to transfer the Spinning, Knitting and processing undertaking of the Company on a slump sale basis as a going concern. A lump sum consideration of Rs 160 crore is to be received by the Company, subject to the necessary adjustments as may be specified in the Business Transfer Agreement.
Ginni Filaments is engaged in the business of the manufacturing of textile products like cotton yarn, knitted fabric, non-woven fabric, garments, wipes and cosmetics.
