At a meeting held yesterday, board of directors decided to merge Ginni Power, Abhinav Investments, Ganesh Synthetics and Goodworth Merchants with Ginni Filaments.
This project is expected to demand around Rs313.3 million as investment for expansion and upgradation.
Company's shares closed down at Rs0.75, or 4.82 percent, at Rs14.80. Total volume of shares traded on Monday at BSE was 28,950.
Ginni's products include 100% combed cotton yarns from Ne16 to Ne50, both in single and double ply construction.
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