"Bannari Amman Spinning Mills Ltd Signs MoU for Sale of Garment Unit"

Bannari Amman Spinning Mills Ltd has formalized a Memorandum of Understanding (MoU) with S.P.Apparels Limited for the sale and transfer of its Garment unit situated at Palladam Hi-Tech Weaving Park in Palladam, Tamil Nadu. Additionally, the agreement includes the sale of 6.43 acres of land with buildings located at Site No. R-44, SIPCOT, Perundurai.

The agreed-upon purchase consideration for this transaction is set at Rs. 58.00 Crores.

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