S.P. Apparels Limited agreed to acquire an unknown stake in Young Brand Apparel Private Limited from Bannari Amman Spinning Mills Ltd for INR 950 million.

S.P. Apparels Limited (NSEI:SPAL) agreed to acquire an unknown stake in Young Brand Apparel Private Limited from Bannari Amman Spinning Mills Ltd (NSEI:BASML) for INR 950 million on February 5, 2024. The consideration consists of INR 950 million in cash. As part of the consideration, INR 950 million was paid towards common equity.

The transaction is subject to necessary Statutory, Regulatory and other Compliance/approvals.It is expected to complete on May 31, 2024. The shareholders of Bannari Amman Spinning Mills Ltd (NSEI:BASML) have approved the transaction on March 11, 2024.