CCME Global Approves Preferential Issue for Acquisitions

CCME Global Limited (formerly Genesis IBRC India Limited) announced board approval for a preferential issue of equity shares. This move is to fund the acquisition of over 50% share capital in Cash & Carry Middle East FZCO for approximately INR 112.72 crore and 52% in Interlink Distribution LLC for approximately INR 20.34 crore. The preferential issue will involve up to 1.8 crore equity shares at INR 10 each for cash, aggregating up to INR 18 crore, plus shares for the acquisitions. A Preferential Issue Committee has been formed to oversee the process.