Sellwin Traders Partners with Subhshri Overseas for Strategic Alliance

Sellwin Traders signed an MoU with Mumbai's Subhshri Overseas Ltd for a strategic collaboration. This entails forming a holding-subsidiary company relationship via a share swap, giving Sellwin ownership and board representation. Earlier, Sellwin inked an MoU with UAE's Secorbit FZCO for a blockchain project.

Sellwin Traders announced on Thursday that it has reached a memorandum of understanding with Mumbai-based Subhshri Overseas Ltd to foster a strategic partnership.

The alliance is set to establish a holding and subsidiary company dynamic through a share swap agreement, as confirmed by the Kolkata-based firm's exchange filing. Though the specific shareholding percentage remains undisclosed, the filing indicated that Sellwin Traders will gain certain ownership in Subhshri Overseas. The board dynamics will allow the holding company to appoint one director, while the subsidiary will appoint two directors.

Subhshri Overseas Ltd, a key player within the Rs 250 crore M S Group, exports various products including readymade garments, textiles, imitation jewelry, and food products. Additionally, Sellwin Traders recently signed an MoU with UAE-based Secorbit FZCO to develop a USD 3 million blockchain-based tokenization platform for equities, bonds, and other assets.

(With inputs from agencies.)