In early trade on February 2, the share price of Gokaldas Exports witnessed a robust 4 percent rally following the company’s announcement of a definitive agreement to acquire the apparel business of Matrix Clothing.
The company confirmed the strategic move in a press release, stating, “The company has signed an agreement with Matrix Clothing Private Limited to acquire 100 percent of the equity share capital of Matrix Design & Industries Private Limited for an enterprise value of Rs 489 crore. Out of this, Rs 247.5 crore is being paid by way of preferential allotment of shares of Gokaldas Exports through share swap.”
Matrix Clothing group is recognized as a leading manufacturer of knitwear apparel catering to various brands, with a substantial geographical presence in key markets such as Europe, the UK, and North America. The positive market response indicates investor confidence in Gokaldas Exports’ strategic expansion through this acquisition.
As of 11:26 am the shares were trading 5.13% higher at ₹955.80
