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Sellwin Traders is acquiring a 60 per cent stake in US infrastructure company Shivam Contracting Inc through an equity deal, issuing shares at a minimum of INR 18 each. The USD 6 million (around INR 52 crore) investment will support current and future US projects, with fund repatriation expected within two years. Concurrently, STL is expanding in the Gulf IT market by planning a controlling stake acquisition in Dubai-based GMIIT, targeting more than 51 per cent equity. These strategic moves aim to strengthen STL's international presence while securing operational control in high-growth sectors.
Sellwin Traders (STL) has signed an agreement to acquire a 60 per cent stake in US-based infrastructure and construction company Shivam Contracting Inc (SCI) through an equity transaction. Under the terms of the deal, STL will issue shares to Shivam Contracting at a price of not less than INR 18 per share to secure the controlling stake. Advertisement
The company confirmed that STL plans to invest up to USD 6 million (approximately INR 52 crore) to support SCI's ongoing and future projects across the United States. A formal valuation of SCI for this transaction is scheduled for the end of 2025, and the memorandum of understanding (MoU) will remain valid for 12 months from the signing date.
According to STL Director Monil Vora, the USD 6 million equity-linked investment will strengthen the company's presence in the US infrastructure sector. He noted that the deal offers attractive returns and assures repatriation of funds within two years. Vora also highlighted that STL is planning a controlling acquisition of Dubai-based Global Market Insights IT Services (GMIIT), targeting more than 51 per cent equity. This move is intended to expand STL's footprint in the Gulf IT services market and leverage growth opportunities in the region.
Earlier this week, STL had entered into a memorandum of understanding with GMIIT to acquire a majority stake, reinforcing the company's strategy of international expansion across key markets. The acquisition plans in the United States and the Gulf region demonstrate STL's focus on building a diversified portfolio while maintaining operational control over its investments. These strategic steps align with the company's broader objectives of capturing high-potential opportunities in both infrastructure and IT services sectors.
Source PTI
5th Jun, 2025
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