Mahindra Logistics shines on getting nod to invest Rs 35 crore in MLL Express Services
Mahindra Logistics is currently trading at Rs. 254.10, up by 12.15 points or 5.02% from its previous closing of Rs. 241.95 on the BSE.
The scrip opened at Rs. 250.00 and has touched a high and low of Rs. 255.00 and Rs. 243.00 respectively. So far 23907 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 554.05 on 02-Jul-2024 and a 52 week low of Rs. 238.50 on 04-Mar-2025.
Last one week high and low of the scrip stood at Rs. 271.05 and Rs. 238.50 respectively. The current market cap of the company is Rs. 1832.14 crore.
The promoters holding in the company stood at 58.03%, while Institutions and Non-Institutions held 20.93% and 21.03% respectively.
Mahindra Logistics has received approval for investment in the equity shares of MLL Express Services (MESPL), wholly-owned subsidiary of the Company, up to an amount not exceeding Rs 35 crore by way of subscription to rights issue by MESPL of up to 3,50,00,000 equity shares of Rs 10 each, at par. The full amount of the issue price will be payable on application in cash.
The said investment will not cause any change in the shareholding of the company in MESPL. MESPL will continue to be a 100% wholly-owned subsidiary of the Company. The objective of the capital infusion in MESPL is to meet the working capital requirements, continuing operations, and for general and corporate purpose of MESPL. The said transaction is expected to be completed before March 31, 2025. The Investment Committee of the Board of Directors of the company at their Meeting held on March 5, 2025, has inter alia, approved the same.
Mahindra Logistics (MLL) provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people transport solutions, a specialised line of business which helps corporate clients move employees to and from the workplace.
