RSWM Ltd., one of the largest manufacturers and exporters of value-added synthetic, mélange, blended spun yarns, denim fabric, knitted fabric, and green polyester fibers from India, has signed a binding term sheet with Ginni Filaments Limited for proposed acquisition of its Spinning, Knitting and Processing Undertaking situated at Mathura on Slump Sale basis at an enterprise value of INR 160 crs which is expected to be completed within ninety days of execution of term sheet subject to execution of definitive documents and receipt of necessary approvals. This acquisition is expected to result in an increase in turnover, employee strength, and plant capacity thereby marking a pivotal moment for RSWM Limited and will establish them as market leaders.
Commenting on this strategic proposed acquisition, Mr. B M Sharma, Joint Managing Director of RSWM Limited, said: “The acquisition broadens RSWM’s reach, making it a significant player in Spinning and Knit Fabric sector by strengthening its production capacity. This may also lead to enhancement in yarn production capacity of RSWM. RSWM Limited has planned to make substantial investment in the modernization of the acquired assets, introducing cutting-edge technologies such as the latest generation compact ring frames and advanced carding and comber machines including power infrastructure. This move is aimed at enhanced recoveries, productivities, and product diversity to cater to premium clients.”
Mr. Riju Jhunjhunwala, Chairman & Managing Director, and CEO of RSWM Limited, said: “RSWM Limited is pleased to announce a significant move in the textile industry with its proposed acquisition of Spinning, Knitting and Processing units of Ginni Filaments Limited. Going beyond Rajasthan, this expansion foresees a substantial increase in turnover. Targeting new customers globally, RSWM Limited aims to strengthen its position in spinning and knitted fabric sector. With a strategic investment in upgrading acquired assets, RSWM Limited focuses on operational efficiency and eco-friendly practices. This move enhances financial stability and anticipates improved earnings. RSWM Limited expresses gratitude to shareholders for their trust and looks forward to shared success in advancing further in the textile industry.”
Ginni Filaments is engaged in the manufacturing of traditional textiles comprising of yarn, fabric and garments and technical textiles comprising of non-wovens and consumer products. RSMW is one the largest and well-established manufacturers of textile products. It is positioned to infuse capital and strengthen its position in this segment. The employees of the various units of Ginni will be secure and have future growth prospects.
Shishir Jaipuria, Chairman & Managing Director of Ginni Filaments, says: “The transfer of the spinning, knitting and processing undertaking would strengthen the financial position of the company since traditional textile business continues to suffer on account of adverse global geo-political situation. Ginni wants to focus on technical textile where it has a leadership position.”
Saket Jaipuria, Executive Director of Ginni, says: “The company has been producing technical textile products for hygiene and medical applications and has a strong customer base. It has also started manufacturing cosmetic products and is seeing substantial growth on this front. It wants to strategically focus on this new emerging segment and is exploring several exciting opportunities. The slump sale process is expected to be completed in three months’ time.”
“We would like to express our gratitude to all the stakeholders for their trust and look forward to our shared success in future,” says Saket Jaipuria.
Ginni Filaments Ltd is a multi-locational manufacturing company engaged in the manufacturing of wipes, liquid cosmetics, cotton yarn, knitted fabric, nonwoven fabric, and garments. It is a public listed company committed to its esteemed customers, shareholders, employees, and vendors.
RSWM Ltd. produces and supplies high-quality yarns to some of the most renowned brands in India and over 70+ countries abroad. For the last 57 years, the company has been producing high-quality cotton, mélange, synthetic, novelty yarns, and denim fabric used to drape populations around the world. RSWM is one of the largest manufacturers and exporters of synthetic and blended spun yarns from India.
The esteemed journey of the LNJ Bhilwara Group started in 1960, when the Group’s founder, Mr. L. N. Jhunjhunwala established a textile mill in Bhilwara, Rajasthan. The Group has completed more than 50 glorious years and today the single textile mills of 1961 have expanded into several plants; the Group export earnings comprise 50% of its turnover and has strategically diversified over the period. It stands proudly as a multi-products and services conglomerate in textile, graphite electrodes, power generation, IT-enabled services, power engineering consultancy services, Energy storage solutions & Skill development.
LNJ Bhilwara Group is a well-diversified conglomerate and stands as one of India’s largest setups on the corporate horizon. The USD 967 million LNJ Bhilwara Group (www.lnjbhilwara.com), commands 20 production units, is strategically located, markets internationally, and employs over 25,000 employees globally. HEG Ltd. is the group’s flagship company and has the world’s largest single-location graphite electrode manufacturing plant. The group also owns two hydroelectric projects under Bhilwara Energy Ltd.
