Marigold Landmark To Buy Priyadarshini Spinning's Garment Unit - APPARELONE
Priyadarshini Spinning Mills is selling its garment unit APPARELONE to Marigold Landmark Estates India Pvt Ltd for Rs.10.6 Cr as management felt its not their focus area and wants to concentrate on spinning and yarn dyeing.
The deal is likely to completed in a month's time.
The funds will be used to clear all outstanding term loans against the garment factory and will use the remaining amount for its working capital requirements.
Transaction Reference: Myiris
Founded in 1981, Priyadarshini Spinning Mills primary manufacturing activity consists of yarn manufacturing and yarn dyeing. The company has a capacity of 82,000 spindles and spinning mill capacity is currently at 35 tons per day and the yarn dyeing capacity is at 10 tons per day. It exports to countries in Europe, Middle East, Turkey and Russia.
Priyadarshini has reported Rs.7.8 Cr loss for 2009-10.
Hyderabad-based Marigold Landmark in the business of real estate and construction activity.
Recently Nakoda Ltd bought a polyester plant for $40 Mn from South Korean firm Kyunghan Industry Company.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 05/07/10 | APPARELONE - Marigold Landmark | M&A | Marigold Landmark Estates (India) Private Limited | 2.20 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 19/03/12 | IPO / Offerings | Alok Industries Limited | 150.00 | Planned | |
| 24/02/12 | Private Equity | Alok Industries Limited | - | Completed | |
| 22/02/12 | M&A | Lilliput Kidswear Limited | - | Announced | |
| 14/12/11 | M&A | T B Kawashima Company Limited | Rayves Automotive Textile Company Private Limited | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Marigold Landmark Estates (India) Private Limited | I Yellamanda | 4th Floor, NSL Icon, Door No.8-2-648/2/A, Road No.12, Banjara Hills, Hyderabad-500034. Andhra Pradesh, India. | ||
| Priyadarshini Spinning Mills Limited | Satyanarayan Enclave, Icon Block, 2nd Floor, Madinaguda |
Jindal Cotex Limited Mandhana Industries Limited |
www.psmspinning.com | |
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