NR Narayana Murthy-led venture capital firm Catamaran Ventures has acquired a 1.12 per cent stake in apparel manufacturer Gokaldas Exports, as disclosed in the company’s shareholding data by the end of September.
The Infosys co-founder’s VC firm now holds approximately 6,70,000 equity shares in Gokaldas Exports, with a market value exceeding ₹57 crore (based on the closing price as of October 12). Catamaran Ventures has invested across a range of sectors, including e-commerce, technology, financial services, consumer goods, healthcare, and education, backing companies such as Manipal Global, Paper Boat, udaan, Log9, and SpaceX.
Notably, the Bengaluru-based exporter’s stock has surged 11.4 per cent against a 1 per cent decline in the Sensex benchmark during the same period. Earlier this year, Gokaldas also acquired the UAE-based Atraco Group, an apparel manufacturer, with market presence and customer relationships across the US and Europe, for $55 million.
In Q1 of FY24, its consolidated net profit declined 17.4 per cent year-on-year to ₹32.5 crore, compared to ₹39.4 crore in the previous year due to a drop in exports to the US and Europe.
