Sellwin Traders Acquires 51% Stake in GMIIT to Boost Gulf Expansion

Sellwin Traders has announced a strategic acquisition of a 51% stake in Dubai-based GMIIT, marking a major step in its diversification strategy. This partnership aims to enhance GMIIT's operations in the Gulf region, with a forecasted annual ROI of over 7%.

In a strategic move on Thursday, Sellwin Traders revealed its acquisition of a 51% stake in the Dubai-based IT services firm, Global Market Insights (GMIIT). This agreement, cited in Sellwin's exchange filing, forms part of a broader business partnership aimed at enhancing GMIIT's operations within the Gulf region.

The Ahmedabad-headquartered Sellwin Traders has committed $1 million, equivalent to approximately Rs 8.5 crore, to secure this majority stake, effectively positioning GMIIT as its subsidiary. This collaboration represents a crucial chapter in Sellwin's diversification strategy, offering GMIIT the financial backing necessary to scale its operations across the Gulf.

Expectations are set for an annual return on investment of no less than 7% stemming from this partnership. The alliance will focus on expanding offerings in IT services, market research, consulting, and digital solutions across the Gulf market. Both entities will jointly invest in business infrastructure, resources, and building a robust client base to achieve this goal.

(With inputs from agencies.)