Neptune Logitek to acquire 100% stake in Neptune Maritime Private Limited
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Neptune Logitek's board approved acquiring 1,00,000 equity shares (100%) of Neptune Maritime Private Limited, a proposed new company in the logistics industry. The new unit will offer freight forwarding via sea, rail, and road. Total cost is Rs 10 lakh at face value (Rs 10 per share), paid in cash. It will be a wholly owned subsidiary, qualifying as a related party transaction. This aligns with the company's strategy to expand its logistics business.
Expansion of logistics business via new wholly owned subsidiary in freight forwarding. Minor financial impact as deal value is just Rs 10 lakh.