Amarnath Kalale entered into a share purchase agreement to acquire 39.79% stake in Transtech Logistics Private Limited from Mahindra Logistics Limited for INR 0.13 million.

Amarnath Kalale entered into a share purchase agreement to acquire 39.79% stake in Transtech Logistics Private Limited from Mahindra Logistics Limited (NSEI:MAHLOG) for INR 0.13 million on December 20, 2023. As part of the deal, Mahindra will transfer 100 equity shares of INR 10 each and 65,988 million compulsorily convertible preference shares of INR 50 each. Post the transaction, Transtech would cease to be an associate of Mahindra Logistics.

Transtech reported revenue of INR 32.6 million, net loss of INR 10 million and net worth of INR -0.4 million for the financial year ended March 31, 2023. The board of directors of Mahindra Logistics approved the transaction. The closing for the sale/transfer of the Company?s holding in TLPL is expected to be completed on December 20, 2023.