Revised Intimation under Regulation 30 of SEBI LODR
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On the reaction day the stock moved 8.6 pts more than Nifty Microcap 250 and 9.3 pts more than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Kesar Terminals & Infrastructure Ltd has received approval from the Madhya Pradesh Government for the 100% transfer of its shareholding in its wholly owned subsidiary, Kesar Multimodal Logistics Limited, to DP World Multimodal Logistics Pvt Ltd. The original deal was based on a Share Subscription & Share Purchase Agreement (SSPA) dated September 11, 2023, and this filing is a revised intimation confirming the latest regulatory clearance. The transaction is still subject to certain conditions precedent and additional approvals as outlined in the SSPA. This marks a key milestone in the company's divestment of its logistics arm to a major global ports and logistics operator.
The sale of its wholly owned logistics subsidiary to global major DP World could unlock significant value for shareholders, but it also means Kesar is exiting its multimodal logistics business. Completion still hinges on remaining conditions precedent, so investors should watch for the final consummation announcement.