Mahindra Logistics divests stake in Transtech Logistics

On Wednesday, Mahindra Logistics announced the divestment of its entire 39.79% stake in associate company Transtech Logistics Pvt Ltd (TLPL). Following the completion of this transaction, TLPL will no longer retain its status as an associate of Mahindra Logistics.

The company, in a meeting held on the same day, disclosed that it had entered into a share purchase agreement with Transtech Logistics Pvt Ltd for the sale and transfer of the 39.79% stake held by Mahindra Logistics in TLPL. This stake comprises 100 equity shares of Rs 10 each and 65,988 compulsorily convertible preference shares of Rs 50 each, with the total consideration for the transaction set at Rs 1,32,176, as stated in a filing to BSE.

The revenue from operations of TLPL for the fiscal year ending March 31, 2023, amounted to Rs 3.26 crore. The filing further revealed that the 39.79% stake is being transferred to Amarnath Kalale, identified as the buyer, who is one of the promoters of TLPL. Importantly, the buyer is not associated with Mahindra Logistics’ promoter, promoter group, or group companies.

Mahindra Logistics Ltd stands as an integrated third-party logistics service provider, specializing in supply chain management and enterprise mobility.

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