Mahindra Logistics gets nod for further investment in Lords

Mahindra Logistics has received an approval for further investment in Lords Freight (India) by way of an additional purchase of 2,39,220 equity shares of Lords (representing 10.12% of equity share capital of Lords) from the existing Shareholders of Lords. The Board of Directors of the company at their Meeting held on August 29, 2018, approved the same.

Earlier, the company had informed about additional investment in Lords, Subsidiary of the company by way of purchase of 2,05,200 shares from the existing Shareholders of Lords and consequent increase of the shareholding of Mahindra Logistics in Lords from 60% to 68.69%.

On completion of both the above mentioned purchases, the company's shareholding in Lords would increase from 60% to 68.69% and eventually the company would hold 78.81% in Lords.

Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people transport solutions, a specialised line of business which helps corporate clients move employees to and from the workplace.