Yarn Syndicate Ltd. — Capital/Financing Update 2023

Sep 30, 2023

YARN SYNDICATE LIMITED

CIN: L51109WB1946PLC013842

Regd. Office: 86/2/4, S N Banerjee Road 1[st] Floor, Flat No. 2, Kolkata, West Bengal - 700 014 E-mail: ysl@yarnsyndicate.in

Date : 30[th] September, 2023

To, BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400 001.

Dear Sir / Madam,

Sub: Press Release Ref: Security Id: YARNSYN / Scrip Code: 514378

Pursuant to second proviso to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the Press Release for Retail Expansion with Barcelona. This Media Release will also be available on the Company's website i.e. https://www.yarnsyndicate.in/.

Kindly take the same on your record and oblige us.

Thanking You.

For, Yarn Syndicate Limited

RAVI Digitally signed by RAVI NIRANJAN NIRANJAN PANDYA Date: 2023.09.30 PANDYA 17:51:37 +05'30' Ravi Pandya Managing Director DIN: 09509086

Yarn Syndicate Limited Announces Retail Expansion with Barcelona

Ahmedabad; September 29[th] , 2023- Yarn Syndicate Limited (YSL) - a BSE listed Company, is a Merchant Exporter and trader and is fully involved in the export and trading of various types of yarn, raw cotton and fabrics, announced to acquire 51% stake in Stitched Textiles Limited, valued at 38-39 Crores.

Barcelona- brand of Stitched Textiles Limited- is India’s leading men’s wear fashion brand, having an extensive presence with more than 100 stores countrywide. Due to its strong retail presence at PAN India level, YSL has planned to expand its business by entering into the retail segment with the goodwill of Stitched Textiles Limited.

Moreover, as Stitched Textiles Limited has its joint venture with Viru Retail Private Limited i.e. VS-by Virendra Sehwag; it will be of no surprise if YSL booms into the retail sector in the coming time.

Promoters of YSL stated that, “We are very pleased with this business strategy which will create a win-win situation for all the stakeholder’s, henceforth, enabling us to raise our outlook for the future years. Our expansion into the retail segment is a milestone moment in the growth of YSL as we will introduce our world-class garments through retail medium.”

The promoters further stated that “This investing strategy will assist YSL by entering into new business dimension, subsequently leading the Company to a new direction of growth”.

In order to execute this visionary strategy, the promoters of YSL are planning to raise funds through right issue, which might as well result in promoter’s stake dilution. For the purpose of which, the promoters have finely evaluated the fundraising plan in order to make the Company debt-free, to fulfill all its obligations with the bank and to achieve the goal of retail expansion at a go. This is yet another stepping stone of the company which propels to the next stage of its growth path.

Looking forward, the opportunity set continues to be attractive across all of their businesses. This plan of action will enhance their scale and ability to drive higher & provide more durable returns.

About Yarn (YSL):

Yarn Syndicate Limited was incorporated on 23.05.1946 and commenced its business operations as dealers in all types of YARN. Yarn was acquired by one of our Promoters in the mid 2022 and is aspiring to grow its segment.

For further information please visit our website “www.www.yarnsyndicate.in/”