AVG Logistics Limited has informed the Exchange about Incorporation of Joint Venture Company
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AVG Logistics Limited has incorporated a new joint venture company named Carbonlite Logistics Private Limited in partnership with Baidyanath LNG Private Limited. The JV will operate in the logistics sector with an initial paid-up capital of Rs. 10 Lakhs. AVG Logistics and Baidyanath LNG will each hold 50% stake, subscribing to shares in cash. The JV has been disclosed as a related party transaction. Further details about the business are to be shared subsequently.
The JV signals AVG Logistics' strategic expansion into the LNG-linked logistics space through a partnership model, which could diversify revenue streams. As a related party transaction with equal 50-50 ownership, shareholders should monitor for any conflicts of interest and long-term commitment implications.