Mahindra Logistics Limited, based in Mumbai, has announced that its Investment Committee has approved a Rs. 35 crore investment into its fully-owned subsidiary, MLL Express Services Private Limited (MESPL). This decision was made during a meeting, and was disclosed through filings with BSE Limited and the National Stock Exchange of India Ltd.
The approved investment will be used to subscribe to a rights issue of up to 3.5 million equity shares of MESPL, each with a nominal value of Rs. 10, payable in cash. MESPL, which operates under the brand “Rivigo by Mahindra Logistics,” recorded a turnover of Rs. 364.22 crore for the fiscal year ending March 31, 2024. The capital infusion will be used to meet the working capital requirements, support ongoing operations, and fund general corporate activities.
The company emphasized that the investment will not affect Mahindra Logistics’ 100% ownership of MESPL, which will continue to be a wholly-owned subsidiary. The transaction is classified as a related party transaction under the SEBI Listing Regulations, but it is exempt from specific requirements due to the arm’s length nature of the deal. Mahindra Logistics confirmed that no additional interests in the subsidiary exist outside of its existing shareholding, and neither the promoters nor the promoter group has any further interest.
The transaction does not require governmental or regulatory approvals and is expected to be completed by March 31, 2025. Further details are available on the company’s official website. The Investment Committee meeting, chaired by Mahindra Logistics, was held from 9:32 a.m. to 9:53 a.m. IST at Arena Space, Jogeshwari (East), Mumbai.
Mahindra Logistics is one of India’s leading integrated third-party logistics (3PL) service providers, offering end-to-end supply chain solutions across diverse industries. The company specializes in transportation, warehousing, and value-added services, leveraging technology-driven operations to enhance efficiency.
With a strong focus on automation, sustainability, and digital transformation, Mahindra Logistics caters to sectors such as automotive, e-commerce, consumer goods, and pharmaceuticals. Its strategic partnerships and expansion into last-mile delivery and freight forwarding further strengthen its market position. The company continues to innovate by investing in electric vehicle (EV) logistics and green supply chain solutions, aligning with its commitment to sustainability and operational excellence.
