Sellwin Traders announced a significant increase in income for the December quarter, reporting a 90 per cent jump. The company has entered into a partnership with UAE-based Secorbit FZCO to develop a blockchain-based tokenization platform for equities, bonds, and real-world assets. The project is valued at $3 million (approximately ₹26 crore). Additionally, the company’s board approved a plan to raise ₹14 crore through a preferential allotment of up to 2.5 crore convertible warrants at ₹5.50 per warrant.
The tokenization platform being developed for Secorbit will focus on enabling the tokenization of various assets while ensuring scalability, security, and seamless integration with existing financial and blockchain ecosystems. Moreover, Sellwin Traders’ commodity trading subsidiary, SDF Productions, is looking to export agro-produces such as Nagpur Orange and Alphanso Mango pulp to global markets.
Following orders worth over ₹25 crore to export local produce to Iran, the UAE, the Middle East, and Germany, the company aims to expand its presence in Europe, the UK, and CIS markets. Sellwin Traders also reported a substantial increase in revenue, rising by 90 per cent to ₹17 crore in the October-December quarter from ₹9 crore in the same period last year. The net profit for the quarter surged over three-fold to ₹0.75 crore.
The article was originally published on January 20, 2025.
