Gokaldas Exports touches roof on inking pact to acquire Atraco Group
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Gokaldas Exports is locked its upper circuit limit at Rs. 736.30, up by 122.70 points or 20.00% from its previous closing of Rs. 613.60 on the BSE.
The scrip opened at Rs. 652.00 and has touched a high and low of Rs. 736.30 and Rs. 647.55 respectively. So far 290386 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 736.30 on 29-Aug-2023 and a 52 week low of Rs. 325.70 on 19-Sep-2022.
Last one week high and low of the scrip stood at Rs. 736.30 and Rs. 575.45 respectively. The current market cap of the company is Rs. 4465.77 crore.
The promoters holding in the company stood at 11.06%, while Institutions and Non-Institutions held 48.51% and 40.43% respectively.
Gokaldas Exports (GEL) through its wholly owned subsidiaries has entered into an agreement to acquire Atraco Group (Atraco), a leading manufacturer of apparel with a strong market position and customer relationships across U.S. and Europe. Their product range includes shorts, pants, shirts, t-shirts, blouses and dresses catering across age groups.
Atraco was founded in 1986 and has a strong legacy of over three decades of regional leadership in the apparel business. Headquartered in Dubai, UAE, where it has its marketing, sourcing, product development and corporate functions, Atraco operates with a network of four manufacturing units in Kenya and one in Ethiopia producing about 40 million garments annually.
Gokaldas Exports is engaged in the designing, manufacturing and exporting of a wide range of apparel products ranging from outerwear, activewear and fashion wear for all seasons.
