NEW DELHI: Mahindra Logistics on Wednesday introduced the sale of complete 39.79 per cent stake in its affiliate firm Transtech Logistics Pvt Ltd (TLPL). Put up completion of this sale, TLPL would stop to be an affiliate of the corporate.
“The corporate…at its assembly held at the moment….entered right into a share buy settlement with Transtech Logistics Pvt Ltd…on the market/switch of the 39.79 per cent stake held by the corporate in TLPL i.e., 100 fairness shares of Rs 10 every and 65,988 compulsorily convertible desire shares of Rs 50 every, for a consideration of Rs 1,32,176,” Mahindra Logistics mentioned in a submitting to BSE.
Income from operations of TLPL for the monetary 12 months ended March 31, 2023 was Rs 3.26 crore.
“The 39.79 per cent stake held by the corporate in TLPL…are transferred to Amarnath Kalale (‘Purchaser’), who is among the promoters of TLPL. The customer doesn’t belong to the corporate’s promoter/promoter group/ group firms,” the submitting mentioned.
Mahindra Logistics Ltd is an built-in third-party logistics service supplier, specialising in provide chain administration and enterprise mobility.
“The corporate…at its assembly held at the moment….entered right into a share buy settlement with Transtech Logistics Pvt Ltd…on the market/switch of the 39.79 per cent stake held by the corporate in TLPL i.e., 100 fairness shares of Rs 10 every and 65,988 compulsorily convertible desire shares of Rs 50 every, for a consideration of Rs 1,32,176,” Mahindra Logistics mentioned in a submitting to BSE.
Income from operations of TLPL for the monetary 12 months ended March 31, 2023 was Rs 3.26 crore.
“The 39.79 per cent stake held by the corporate in TLPL…are transferred to Amarnath Kalale (‘Purchaser’), who is among the promoters of TLPL. The customer doesn’t belong to the corporate’s promoter/promoter group/ group firms,” the submitting mentioned.
Mahindra Logistics Ltd is an built-in third-party logistics service supplier, specialising in provide chain administration and enterprise mobility.
