Shares of Gokaldas Exports have now doubled so far in 2023 courtesy the surge seen in today's trading session. The stock is now trading at a record high.

Monday evening that it had entered into an agreement to acquire Atraco Group, a leading apparel manufacturer for $55 million.

Atraco, founded in 1986 has a product range that spans from shorts to t-shirts

dresses across age groups. Dubai-based Atraco reported a revenue of $107 million

with a net profit of $7.2 million for the calendar year 2022.

"We have the balance sheet strength to fund this acquisition," he said.

Atraco also has a working capital debt of around $15 million.

Ganapathi further said that the acquisition has a peak revenue potential of Rs 3,500 crore to Rs 4,000 crore by financial year 2026

Ganaptahi spoke about cross-selling opportunities arising from this acquisition. He said that they have only one common customer.