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PNN
Ahmedabad (Gujarat) [India], April 10: Ahmedabad-based Sellwin Traders Ltd has entered in to share purchase agreement, to make a strategic investment in Patel & Patel E-Commerce And Services Pvt Ltd. Company has agreed to acquire 66.67% of the total paid-up share capital in the form of equity shares of Patel & Patel E-Commerce And Services Pvt Ltd. Investment by Sellwin Traders Ltd is in alignment of future business projects with the investee company. Highlights:- -Company has announced to invest approximately Rs. 200 million in Shah Metacorp Ltd - Investment will be utilized to support Shah Metacorp Ltd's expansion initiatives, enhance production capacities, strengthen R&D and explore new market segments. - In March 2024, the company entered into share purchase agreements, to make a strategic investments in Mannibhadra Aggro Pvt Ltd by acquiring 60% of the total paid-up share capital Patel & Patel E-Commerce And Services Pvt Ltd is currently engaged is in business of Software designing, development, customisation, implementation, maintenance, testing and benchmarking, designing, developing and dealing in computer software and solutions. Company has also entered into share purchase agreement, to make a strategic investment in Mannibhadra Aggro Pvt Ltd by acquiring / subscribing 60% of the total paid-up share capital in the form of Equity Shares of the Company in the meeting held today i.e. on 7th March, 2024. Mannibhadra Aggro Pvt Ltd is currently engaged in business of Agriculture. Board of Directors of the company, Sellwin Traders Ltd has approved allotment of 3,17,80,000 Convertible Warrants to the persons belonging to the Non Promoter Category each carrying a right to subscribe to one Equity Share per warrant, for cash at an issue price of Rs. 12.95 per warrant by way of Preferential allotment upon receipt of 25% of the issue price in accordance with provisions of SEBI ICDR Regulations, 2018. Company to raise over Rs. 410 million from preferential warrants issue. Recently company has announced to invest approximately Rs. 200 million in Shah Metacorp Ltd (BSE & NSE Listed Company) over the next two years. This strategic investment aligns with company's long-term growth strategy and aims to capitalize on the promising opportunities in the metals industry. The investment will be utilized to support Shah Metacorp Ltd's expansion initiatives, enhance production capacities, strengthen research and development capabilities, and explore new market segments. By partnering with Shah Metacorp Ltd, we aim to leverage synergies, drive operational efficiencies, and create value for our shareholders. Shah Metacorp Ltd is a renowned player in the metal sector, known for its strong operational capabilities, innovative products, and sustainable business practices. With a robust track record of delivering value to its stakeholders, Shah Metacorp Ltd presents a compelling investment opportunity for our company. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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