CCME Global

CCME Global's board approved the acquisition of a 51% stake in Cash & Carry Middle East FZCO in the UAE for up to ₹127.73 crore, comprising a ₹112.73 crore share swap and up to ₹15 crore in cash. It also approved the acquisition of 52% of Sharjah-based Interlink Distribution LLC for ₹20.34 crore through a share swap. The transactions were paired with a proposed preferential issue of up to 15.11 crore shares at ₹10 each, aggregating up to ₹151.07 crore, subject to shareholder and regulatory approvals. CCME UAE had 2025 turnover of AED 180.93 million, while Interlink's was AED 77.66 million. CCME Global had no operating revenue and total revenue of ₹0.05 lakh in the June 2026 quarter, and had used ₹0.23 crore of its ₹32.25 crore preferential raise by June 30.

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CCME Global approved the acquisition of 51% of Cash & Carry Middle East FZCO in Dubai for about ₹127.73 crore and 52% of Interlink Distribution LLC in Sharjah for ₹20.34 crore. The CCME UAE transaction comprised a ₹112.73 crore share swap for 45% of the target and a cash purchase of up to 6%, while the Interlink acquisition was to be settled through a ₹20.34 crore share swap. The board also approved a preferential issue of up to ₹18 crore in cash and ₹133.07 crore in shares, along with a 1:10 split of the company's ₹10 equity shares, subject to shareholder and regulatory approvals. CCME UAE was held by promoters Padmanabhan Krishnamoorthy and V Varalakshmi, who owned 80% and 20% respectively, while Interlink was described as unrelated. CCME UAE had turnover of AED 69.03m and net profit of AED 4.40m at June 30, 2026, while Interlink had turnover of AED 7.04m and net profit of AED 0.54m. The company completed a ₹32.25 crore preferential allotment in March 2026, while FY26 total revenue was about ₹3.5 lakh and operating revenue in Q1 FY27 was nil.

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CCME Global was scheduled to hold a board meeting on August 29 to consider increasing its authorised share capital and raising funds through a preferential issue of equity shares, warrants or related securities. The board was also due to consider acquiring entities, subdividing the share capital and shifting the registered office. The company raised ₹32.25 crore through a preferential allotment in March, but had used only ₹0.23 crore by June 30. It reported no operating revenue in the June quarter and total revenue of ₹3.51 lakh for the year ended March 2026.

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Jan 19 (Reuters) - Genesis IBRC India Ltd GESS.BO:

• GENESIS IBRC INDIA LTD - APPOINTS POONAM CHATURVEDI AS MANAGING DIRECTOR FOR ONE YEAR

• GENESIS IBRC INDIA LTD - CHDVV PRASAD RAO RESIGNS AS CHIEF FINANCIAL OFFICER

• GENESIS IBRC INDIA LTD - NAMES RAVINDRANATH RAJARAM AS CHIEF FINANCIAL OFFICER

Source text: ID:nBSE5rHDL5

Further company coverage: GESS.BO

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