| Log in

Winsome Yarns in talks to sell stake in knitting unit

14 January, 2014

Winsome Yarns Ltd, a Chandigarh-based yarn manufacturing company, is in advanced stages of negotiation with two parties who intend to acquire majority stake in the knitting division of the company, as per a stock market disclosure.

“The company has accorded its mandate to a Singapore based Merger & Amalgamation Consultant to scout for a joint venture partner or strategic Investor for its knitting division. Discussions are in the advanced stage with two parties who intend to acquire majority stake in knitting division of the company,” Winsome Yarns said in the filing.

Founded in 1990, Winsome Yarns is a part of Kolkata-based Winsome Group, offers raw white yarn, melange yarn, dyed yarn and knitwear. It’s a small cap public listed firm.

In May 2013, the firm had decided to undertake an internal restructuring in order to improve efficiency and achieve better financial management.

Three years ago, it had raised funding through a preferential allotment to both promoters and non-promoters.

(Edited by Joby Puthuparampil Johnson)


Leave Your Comment
Winsome Yarns selling knitting division to a Middle East-based firm

Winsome Yarns selling knitting division to a Middle East-based firm

Bhawna Gupta 4 years ago
Winsome Yarns Ltd, a Chandigarh-based yarn manufacturing company, is selling its...
KKR-backed Archean Group divests majority stake in fertiliser business in Senegal

KKR-backed Archean Group divests majority stake in fertiliser business in Senegal

Diksha Dutta 3 years ago
Chennai-based privately held industrial conglomerate Archean Group, which was...
KKR to invest $150M in polyester products maker JBF Industries, its overseas arm

KKR to invest $150M in polyester products maker JBF Industries, its overseas arm

Anuradha Verma 2 years ago
Kohlberg Kravis & Roberts (KKR), one of the top-tier alternative investment...
No Comments

Winsome Yarns in talks to sell stake in knitting unit

Powered by WordPress.com VIP