Transindia Real Estate Acquires Full Stake in AGL Warehousing

On July 24, 2024, Transindia Real Estate Limited announced that it had acquired a 6.62% stake in AGL Warehousing Private Limited from Contech Solutions Private Limited. As a result, AGL Warehousing has become a wholly-owned subsidiary of Transindia Real Estate Limited.

Objective of Acquisition

Transindia Real Estate Limited already holds a 93.38% stake in AGL Warehousing. Acquiring the remaining 6.62% equity shares aims to achieve their strategic objective of fully integrating AGL into their corporate structure. This acquisition is expected to streamline operations and boost the overall value of the company’s warehousing activities.

Acquisition Details

Related Party Transaction: This acquisition is considered a related party transaction.

Interest of Promoters: Mr Shashi Kiran Shetty and Arathi Shetty, who are promoters of the Company, are also Directors of AGL. The transaction is conducted on an arm’s-length basis.

Regulatory Approvals: No governmental or regulatory approvals were required for this acquisition.

Acquisition Cost: The acquisition was made with cash consideration, and the shares were acquired at a cost of ₹5,93,08,860, as per the valuation report from a registered valuer.

About AGL Warehousing Private Limited

AGL specialises in the storage, warehousing, transportation, and handling of all types of cargo, including containerised and non-containerized goods. They manage cargo movement from ports to freight stations or inland depots and handle transportation by land, air, sea, or a combination. The industry to which AGL belongs is Warehousing & Storage. The company has an authorised capital of ₹4,31,00,000 and a paid-up capital of ₹1,10,59,800.

About Transindia Real Estate Ltd

Transindia Real Estate, previously known as Transindia Realty & Logistics Parks Limited, was incorporated on December 3, 2021, in Mumbai, Maharashtra. It operates in various sectors, including leasing land and commercial properties, managing logistics parks and warehousing, real estate development and leasing, engineering and equipment hiring solutions, and other related businesses. It provides businesses with top-tier warehousing solutions, leveraging advanced technology, excellent inventory management, and a strong focus on speed, safety, and customer service.

On July 25, 2024, the share price of Transindia Real Estate Ltd opened at ₹44.50, touching the high price of ₹46.75 as of 01:28 PM on NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.