RSWM announces strategic acquisition of Ginni Filaments’ assets for Rs 160cr
RSWM Ltd., a leading manufacturer and exporter in the textile sector, has marked a significant milestone with the strategic proposed acquisition of assets of Ginni Filaments Limited. This acquisition, at an enterprise value of INR 160 Cr, includes Spinning, Knitting, and Processing Undertaking situated at Mathura. Set to be completed within ninety days, this move signals RSWM Ltd.’s aim to establish market leadership in the textile industry.
Strengthening Market Position with Key Assets
The acquisition is anticipated to not only increase RSWM Ltd.’s turnover but also expand its employee strength and plant capacity, positioning the company as a major player in the Spinning and Knit Fabric sector. The modernization of the acquired assets is planned, with substantial investment in cutting-edge technologies, such as the latest generation compact ring frames and advanced carding and comber machines, including power infrastructure.
Major Move in Textile Sector: RSWM Ltd. Acquires Ginni Filaments’ Spinning and Knitting Units
Leadership Comments on the Acquisition
B M Sharma, Joint Managing Director of RSWM Limited, highlighted the acquisition’s potential to broaden RSWM’s reach and strengthen its production capacity. He emphasized the focus on enhanced recoveries, productivities, and product diversity to cater to premium clients.
Riju Jhunjhunwala, Chairman, Managing Director, and CEO of RSWM Limited, expressed enthusiasm for this expansion beyond Rajasthan, foreseeing a substantial increase in turnover. This strategic move aims to target new global customers and solidify RSWM Limited’s position in the spinning and knitted fabric sector.
Future Outlook for RSWM Ltd.
This strategic acquisition by RSWM Ltd. not only enhances its financial stability but also anticipates improved earnings and operational efficiency. It signifies a major leap in the Indian textile industry, with RSWM Ltd. expressing gratitude to shareholders for their trust and looking forward to continued success in the sector.
RSWM Ltd.’s acquisition of Ginni Filaments’ assets represents a game-changing moment in the textile industry, setting a new benchmark for corporate expansion and strategic investments.