Corporate News
CCME Global Limited, formerly Genesis IBRC India Limited, has completed a preferential allotment of shares to facilitate the acquisitions of CCME UAE and Interlink Distribution LLC, and approved a 1:10 stock split intended to enhance liquidity and broaden investor accessibility. The company allotted 19,63,17,249 shares to Mr. Mostafa Ahmed Kabir, who holds a 52% stake in Interlink Distribution LLC, receiving 2,03,42,249 shares in exchange. The stock split will reduce the face value of equity shares from INR 10 to INR 1 and is expected to be completed during the current fiscal year. Managing Director Poonam Chaturvedi oversaw the transactions, which were valued by an Independent Registered Valuer and a Category I Merchant Banker, and represent a filing required for regulatory compliance.