Winsome Yarns Ltd, a Chandigarh-based yarn manufacturing company, a part of Kolkata-based Winsome Group, to improve efficiency and ensure better financial management in May 2013 the company took up a decision to undertake an internal restructuring by selling its knitting division to a Middle East-based company for an undisclosed amount, as per a stock market disclosure.
Winsome Yarns Ltd, a Chandigarh-based yarn manufacturing company said that it has mandated a Singapore-based merger and amalgamation (M&A) consultant to scout for a joint venture partner or strategic investor for its knitting division.
In the filing to the BSE, Winsome Yarns said that the discussions are in advanced stages of negotiation with two parties who intend to acquire majority stake in the knitting division of the company.
In May 2013, the firm had decided to undertake an internal restructuring in order to improve efficiency and achieve better financial management
