Nippon Express Co., acting through its subsidiary Nippon Express (South Asia & Oceania) (Nippon Express), Japan’s leading global logistics player, has agreed to acquire a 22% stake in Future Supply Chain Solutions (FSC). This transaction is a combination of primary issuance and secondary purchase from an existing Investor.
As part of this transaction, FSC will issue 37,89,350 shares to Nippon Express at a price of Rs 664 per share (22% premium to the current market price). Through this primary issue Nippon Express will hold 8.6% stake on a fully diluted basis and FSC will raise around Rs 252 crore for funding its near?term growth plans.
Future Supply Chain Solutions is one of the largest third-party logistics service provider in India. Their services include automated and IT-enabled warehousing, distribution and other logistics solutions.
