Sellwin To Acquire Majority Stake in Dubai’s GMIIT

22 Aug 2025 CW Team

Sellwin Traders Limited (BSE: 538875) has signed a Memorandum of Understanding (MoU) with Dubai-based Global Market Insights IT Services LLC (GMIIT) to form a strategic partnership aimed at strengthening and expanding GMIIT’s operations in the Gulf region.

As part of the agreement, Sellwin Traders will acquire a controlling stake of more than 51 per cent equity in GMIIT through an investment of around USD 1 million (approximately Rs 85 million), thereby making it a subsidiary. The partnership represents a significant step in Sellwin’s diversification strategy while providing GMIIT with the financial and strategic support needed to scale its regional presence. Sellwin expects an annual return on investment of 7 per cent or more.

The MoU will remain valid for six months or until the signing of a definitive agreement. Both companies will jointly focus on expanding IT services, consulting, market research, and digital solutions across the Gulf. The partnership also envisions joint branding and marketing initiatives to strengthen visibility and client engagement in the region.

The investment may be structured through cash, kind, or share swaps, subject to mutually agreed terms and due diligence. Sellwin will also gain the right to appoint a majority of directors to GMIIT’s board, with key management positions finalised collaboratively.

Monil Vora, Director of Sellwin Traders Limited, said:

“This strategic investment reflects our vision to enter high-growth, future-ready sectors. The Gulf is a hub for digital transformation, and through this partnership, we aim to deliver innovative IT and consulting solutions for global clients. GMIIT already operates platforms in India, Qatar, Canada, the UK, and Saudi Arabia.”

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..