Malwa Inds acquires two global denim firms

Malwa Industries today announced the acquisition of 100% equity of Third Dimension Apparels, based in Jordan, and majority stake in Italy-based Emmetre Tintolavanderie Industriali S.r.l.

While Third Dimension is involved in the manufacture of denim garments, the Italian company is involved in dyeing and finishing of garments including denim garments.

Rishi Oswal, CEO of Malwa Industries, "Our acquisition of Third Dimension  has given us a strategic foothold in a garment manufacturing location with duty-free access to the US and European markets."

The company has also filed a draft prospectus with Sebi for a proposed issue of two crore shares of Rs 10 each at a premium to be decided through the book-building route.