Press Release20 May 2024, 10:32 pm
Sellwin Traders Approves Strategic Investment in Patel Container India, Announces 56% growth in Total Income
AI Summary
Sellwin Traders Ltd has announced a strategic investment in Patel Container India Pvt Ltd, acquiring a 36% stake with an option to extend it to 51% over the next two years. The investment will support the establishment of a new manufacturing facility for logistic containers in Bhavnagar, Gujarat, with an estimated investment of Rs. 45 crore and potential employment for 100 people. Sellwin Traders reported a business turnaround and 56% growth in total income to Rs. 61.7 crore in FY24.
Key Highlights
- Sellwin Traders acquires 36% stake in Patel Container, extendible up to 51%
- Investment of Rs. 45 crore for a new logistic containers manufacturing facility in Bhavnagar
- Patel Container to generate employment for 100 people
- Sellwin Traders reports 56% growth in total income to Rs. 61.7 crore in FY24
- Proposed appointment of Vedant Rakesh Panchal as Managing Director and Chairperson