Brace Port Logistics to acquire 76% stake in Sageroute Logistics
BRACEPORT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved buying 76% of Sageroute Logistics for up to Rs 76,000 in cash, making it a subsidiary on completion. It will invest Rs 75,24,000, with Rs 23,76,000 from the other shareholder, keeping the 76:24 ratio and taking paid-up capital to Rs 1 crore. Sageroute was newly formed with no turnover; completion is expected within 30 days. The secretary's resignation took effect 15 October; the managing director will oversee filings.
The deal may expand Brace Port's logistics operations, but the target is newly formed with no turnover, so near-term earnings impact is uncertain.