Mahindra Logistics Limited - Acquisition

13 May 2022 , 12:00 AM

Mahindra Logistics Limited has informed the Exchange about Updates on Acquisition. Further to letters dated 9 November 2021, 27 December 2021 and 24 February 2022, informing that the Company had signed Share Purchase Agreement to acquire (i)100% paid-up share capital of Meru Mobility Tech Pvt Ltd (???MMTPL???), V-Link Automotive Services Pvt Ltd (???VASPL???) and V-Link Fleet Solutions Pvt Ltd (???VFSPL???) from Meru Travel Solutions Pvt Ltd (???MTSPL???), a Fellow Subsidiary of the Company; and (ii) 100% paid-up share capital of MTSPL from Mahindra & Mahindra Ltd (???M&M???), Holding and Promoter Company of the Company, before end of May 2022, we would like to inform that the Company has completed 100% acquisition of MMTPL, VASPL and VFSPL from MTSPL. Following the completion MMTPL and VFSPL have become a subsidiaries of the Company on 12 May 2022. VASPL has become a subsidiary of the Company on 13 May 2022. As on date, MMTPL, VFSPL and VASPL are wholly-owned subsidiaries of the Company and would continue to remain subsidiaries of M&M. Detailed Disclosure is attached.