NR Narayana Murthy-led venture capital firm Catamaran Ventures LLP has acquired a 1.12 percent 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, SpaceX, and more.

Also read: Infosys posts strong revenue growth, trims FY24 guidance

Notably, the Bengaluru-based exporter’s stock has surged 11.4 percent as against a 1 percent decline in the Sensex benchmark during the same period. Earlier this year, Gokaldas also acquired UAE-based Atraco Group (Atraco), an apparel manufacturer with market presence and customer relationships across the US and Europe, for $55 million.

During the first quarter of fiscal year 2023–24 (Q1 FY24), its consolidated net profit declined 17.4 percent year-on-year (YoY) to ₹32.5 crore compared to ₹39.4 crore in the previous year due to a drop in exports to the US and European nations. While the consolidated revenue fell 15.7 percent YoY to ₹514 crore in the first quarter.