Acquisitions29 Aug 2026, 07:30 pm
CCME Global Approves Preferential Issue for Acquisitions
AI Summary
CCME Global Limited (formerly Genesis IBRC India Limited) announced board approval for a preferential issue of equity shares. This move is primarily to fund the acquisition of over 50% share capital in Cash & Carry Middle East FZCO for approximately ₹112.73 crore and 52% in Interlink Distribution LLC for approximately ₹20.34 crore. The preferential issue will involve up to 1.8 crore equity shares at ₹10 each for cash, aggregating up to ₹18 crore, and issuance of shares for the acquisitions, totaling ₹133.07 crore. The company also ratified the appointment of a registered valuer and approved the draft valuation report.
Key Highlights
- Board approved preferential issue for acquisitions of CCME UAE and Interlink Distribution.
- Total consideration for acquisitions amounts to ₹133.07 crore via share swap and cash.
- Preferential issue includes cash component of ₹18 crore and share swap for acquisitions.
- Fair price determined by Registered Valuer for equity shares/convertible securities.
- Relevant date for preferential issue set as August 28, 2026.
Price Impact
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