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Our Bureau

Mumbai , May 11

THE investment arm of Reliance Energy plans to acquire 25 per cent equity stake in kidswear firm Gini & Jony.

However, details on how much the investment will cost is not known.

According to a source, the company is expected to make an announcement regarding the details of the acquisition over the next few days.

The company has set up two units at Badi, Himachal Pradesh. The smaller project is already operational and produces 500 pieces per day. The larger project will manufacture 5,000 pieces a day and will be operational in September.

By the end of the year, the Badi units will produce 1.5 lakh pieces a month and the total production, including the output at Gini & Jony's Daman unit, will be 2.65 lakh pieces a month.

The synergy with the Reliance group is expected to boost the kidswear firm in terms of exposure to the market and business prospects.

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