KPTL to buy 19.94 per cent stake in Shree Shubham Logistics

KPTL to acquire 19.94 per cent stake in Shree Shubham Logistics for consideration of Rs. 64.66 crore by signing a definitive agreement with Tano India Private Equity Fund II (Tano).

As per the agreement, the company will pay the consideration via a non-cash equity-swap transaction in which 12,54,900 equity shares of KPTL will be issued to Tano at a value of Rs.515.25 per share subject to approvals. After completion of the acquisitions, KPTL’s stake in Shree Shubham Logistics Limited (SSL) will be 100 per cent. This deal will help KPTL offer quality agricultural warehousing solutions.

Kalpataru Power Transmission Limited is an EPC company engaged in the business of power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business.

Reacting to this development, the stock of the company closed at Rs. 533.20 per share which is a decrease by 1.15 per cent or Rs. 6.20 per share. The 52-week high is Rs. 553.50 and 52-week low is Rs. 268.50 on BSE.