Sellwin Traders gains on entering into MoU with SDF Productions
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Sellwin Traders is currently trading at Rs. 27.50, up by 0.49 points or 1.81% from its previous closing of Rs. 27.01 on the BSE.
The scrip opened at Rs. 27.25 and has touched a high and low of Rs. 28.35 and Rs. 27.25 respectively. So far 82887 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.50 on 19-Jul-2024 and a 52 week low of Rs. 9.50 on 10-Oct-2023.
Last one week high and low of the scrip stood at Rs. 29.00 and Rs. 25.62 respectively. The current market cap of the company is Rs. 55.72 crore.
The Non-Institutions 100.00% stake in the company.
Sellwin Traders has entered into Memorandum of Understanding (MoU) with SDF Productions, an agri-export company specializing in spices, pulses, pulp, rice, tea, fruits, and vegetables. Sellwin is eyeing revenue in excess of Rs 30 crore from the business arrangement with a healthy margins of 35-40%. The Board of Directors of the company is schedule to meet on September 25, 2024, to consider issuing bonus shares and approving a stock split, subject to shareholder and regulatory approval. The board will also review a business proposal focused on potential synergies and forward integration to meet evolving customer needs.
Under the MoU, Sellwin Traders will supply agro products to SDF Productions, which will then distribute these products to both Indian and international markets based on purchase orders. Sellwin will provide financial support to SDF Productions for procurement from Indian suppliers. Recently, SDF Productions secured several orders for mango pulp, including a $259,500 order from Ninety Nine Foodstuff Trading L.L.C, two orders totaling $130,200 from Shing Exim General Trading L.L.C, and additional orders from The Springs Foodstuffs Trading Co L.L.C.
On July 19, 2024, the Sellwin Board approved acquiring a 51% stake in SDF Productions. This strategic investment aims to expand Sellwin Traders’ business through market growth, supply chain integration, and revenue enhancement. SDF, operating in Dubai since 2002, recently expanded to New Mumbai. The company exports local produce, including oranges, turmeric, and jaggery, to Iran and the Middle East, with plans to enter Europe, the UK, and CIS markets, focusing on high-curcumin turmeric.
In April 2024, the company signed a share purchase agreement to acquire a 66.67% stake in Patel & Patel E-Commerce And Services Patel Container signed an MoU at the Vibrant Gujarat Global Summit 2024 to invest Rs 45 crore in a logistics container manufacturing facility in Bhavnagar, Gujarat. The facility, expected to begin operations in 2025, will create 100 jobs and benefit from Bhavnagar's strategic location near major ports and trade routes. Investment by Sellwin Traders will be utilized to support the establishment of a new manufacturing facility for logistic containers in Bhavnagar District, Gujarat.
Sellwin Traders have been Providing Services in Real Estate and Properties, Investment and Trading in Shares & Securities, investment in properties, Providing Finance related services and other advisory.
