Globe Multi Ventures Expands Agri-Tech Portfolio with Strategic Acquisition of CoOptions Corporation

Globe Multi Ventures Limited (GMVL) is set to revolutionize its presence in the agriculture sector with the approval of a major acquisition. The company's board has greenlit the purchase of an 84.40% stake in CoOptions Corporation Private Limited (CCPL), a Hyderabad-based integrated multi-dimensional agriculture and logistics firm.

 

In a bold move, GMVL will acquire 5,19,84,788 equity shares of CCPL through a share swap arrangement. The deal involves issuing 20,79,39,152 new GMVL shares, with a swap ratio of 4:1 – four GMVL shares for every one CCPL share.

 

This strategic acquisition aligns with GMVL's growth aspirations, leveraging CCPL's extensive infrastructure and dealer-distributor network. The move is expected to significantly enhance GMVL's capabilities in the agricultural sector, opening up new avenues for expansion and innovation.

 

To facilitate this landmark deal, GMVL plans to increase its authorized share capital from ₹10 crore to ₹200 crore, subject to shareholder approval at an upcoming Extraordinary General Meeting.

 

Sources: BSE, Globe Multi Ventures Limited website, Economic Times