Bannari Amman Spinning Mills has entered into Memorandum of Understanding (MoU) for Transfer/Disinvestment/Sale of Company’s equity shareholding in the subsidiary and Joint Venture Company viz., Young Brand Apparel (A Material Subsidiary). The proposed transaction is expected to be completed on or before May 31, 2024, subject to the approvals of necessary regulatory approvals.
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.
