Sellwin Traders Ltd to invest around Rs. 200 million in Shah Metacorp Ltd over the next two years

Share Story on

Strategic investment aligns with company’s long-term growth strategy and aims to capitalize on the promising opportunities in the metals industry

Ahmedabad (Gujarat) [India], April 1:  Sellwin Traders Ltd has decided 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.

Highlights:-

  • Board approved Preferential convertible warrants issue of over Rs. 410 million by allotment of 31.7 million convertibles warrants at an issue price of Rs. 12.95 per share
  • 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 i) Patel & Patel E-Commerce And Services Pvt Ltd by acquiring 66.67% of the total paid-up share capital and ii) Mannibhadra Aggro Pvt Ltd by acquiring 60% of the total paid-up share capital

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.

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.

Earlier in the month of March 2024, the company has entered into share purchase agreement, to make a strategic investment in Patel & Patel E-Commerce And Services Pvt Ltd by acquiring / subscribing 66.67% of the total paid-up share capital in the form of Equity Shares of the Company on 6th March, 2024.  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.

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.



Search By Category

Recent News

You May Also Like

Chocolate Chip Pudding Cookies

Chocolate Chip Pudding Cookies

Introducing the softest and chewiest chocolate chip pudding cookies to ever come out of your oven! Adding Instant pudding mix creates the perfect cookie that

Chamkila, A Musical Journey with Nitish R. Kumar

Chamkila, A Musical Journey with Nitish R. Kumar

New Delhi (India), April 13: “Chamkila,” the latest cinematic offering from director Imtiaz Ali, is poised to set hearts ablaze with its captivating storytelling and

Rangoli’s Triumph Relies on Quality, Products Crafted from Superior Materials, Meeting Global Standards for Excellence

Rangoli’s Triumph Relies on Quality, Products Crafted from Superior Materials, Meeting Global Standards for Excellence

New Delhi (India), April 13: In today’s ostentatious home decor scenario, Rangoli Furnishings has emerged as a symbol of excellence, celebrating luxury and sophistication for

The Hiremath Family Foundation Advances E-Learning Initiative for Underprivileged Children

The Hiremath Family Foundation Advances E-Learning Initiative for Underprivileged Children

Mumbai (Maharashtra) [India], April 13:  The Hiremath Family Foundation was founded to help the underprivileged in the area of education, health, hygiene, income generation and

Afternoon Voice Announces Nominations Open for 16th Newsmakers Achievers Award 2024

Afternoon Voice Announces Nominations Open for 16th Newsmakers Achievers Award 2024

Mumbai (Maharashtra) [India], April 13: Afternoon Voice proudly announces the commencement of nominations for its esteemed 16th Newsmakers Achievers Award 2024. Recognised as one of

ZODIAC Presents The 2024 Positano Collection Pure Linen Shirts In Colours Inspired By The Italian Riviera

ZODIAC Presents The 2024 Positano Collection Pure Linen Shirts In Colours Inspired By The Italian Riviera

Bangalore (Karnataka) [India], April 12: Linen is one of the oldest fibres used in textile weaving. Woven from the stem of the Flax plant it