The Board of Directors of Sellwin Traders Ltd, based in Ahmedabad, has approved a strategic investment proposal in Patel Container India Pvt Ltd. Company will acquire 36% stake in Patel Container which is extendible up to 51% over the next two years. Investment by Sell win Traders will be utilized to support the establishment of a new manufacturing facility for logistic containers in Bhavnagar District, Gujarat.
Company has also announced to invest approximately Rs. 200 million in Shah Metacorp Ltd to capitalize on the promising opportunities in the metal industry. The company converted 1.2 crore warrants into 1.2 crore equity shares of Rs. 10 each upon receiving the balanced amount and appointed Mr. VedantRakesh Panchal as Managing Director and Chairperson on May 17, 2024, subject to shareholder approval.
Patel Container has committed to investing Rs. 45 crore in a logistic container manufacturing facility in Bhavnagar, Gujarat, at the Vibrant Gujarat Global Summit 2024. The project, expected to create 100 jobs by 2025, will benefit from strategic location near major ports and trade routes, optimizing logistics and distribution. During FY24, company has turn around its business operations and reported 56% growth in total income to Rs. 61.7 crore as compared to Rs. 39.60 crore in FY23. Mr. Vedant Panchal, Managing Director, Sellwin Traders Ltd, said, “By leveraging advanced manufacturing technologies and establishing efficient operational setups, Sellwin Traders can expect fruitful outcomes from this investment in Patel Container India Pvt Ltd.”