Anagram Partners advised Gokaldas Exports Limited in the acquisition of Matrix Clothing’s apparel business in a combined cash and stock swap deal for INR 4900 million approximately

March 14, 2024
Aditi Tralshawala
Principal Associate
Anoushka Shetty
Associate
Rajni Tolani
Associate

Gokaldas Exports, one of India’s largest apparel exporters, has signed a Share Swap Agreement with Matrix Clothing Private Limited to acquire 100% of the equity share capital of Matrix Design & Industries Private Limited. The consideration will be discharged by way of a combination of cash and issuance of equity shares on a preferential allotment basis, subject to the receipt of necessary approvals. The acquisition is proposed at an enterprise value of INR 4900 million approximately.

Matrix Clothing group is a manufacturer of high-quality men’s, ladies’, and children’s knitwear apparel for renowned brands with major geographical exposure to Europe, the UK, and North America.

Anagram Partners acted as the legal advisors to Gokaldas Exports. The team at Anagram Partners was led by Aditi Tralshawala and comprised Anoushka Shetty and Rajni Tolani.

Read more at:

Microsoft Word – pressrelease (bseindia.com)

Gokaldas Exports to acquire Matrix Clothing’s apparel biz; stock zooms 9% (business-standard.com)