Palred Technologies has received an approval for investment of Rs 5.04 crore in subsidiary companies. The board of directors at its meeting held on April 28, 2018 has approved for the same. The company has received approval to invest in Palred Online Technologies, Palred Technology Services and Palred Retail.
The company will invest Rs 4 crore by way of Private Placement of Equity Shares in Palred Online Technologies. The company will also invest Rs 1 crore in Palred Technology Services and Rs 4 lakh in Palred Retail.
Palred Technologies is a provider of software solutions for transportation and logistics industry. It offers solutions in the areas of freight forwarding industry, customs brokerage, contract logistics, shipper logistics and services. The firm also provides services like consulting, software development and system integration and implementation.
