Transindia Real Estate has acquired 100% equity shares of Transindia Freight Services (TFSPL), Promoter Group Company from Shashi Kiran Shetty and Arathi Shetty Promoters, a related party of the company. TFSPL has now become Wholly Owned subsidiary of the company.
The acquisition and management of operating real estate properties is within the scope of its main line of business and in pursuance of expanding its warehousing business. This expansion is consistent with the company's overarching goals and does not represent a departure from its established operations. The acquisition is done at purchase consideration of Rs 5.81 crore.
Transindia Real Estate is engaged in the business of Leasing of land and Commercial Properties, Logistics Park, Warehousing, real estate development and leasing activities, Engineering and equipment hiring solutions and other related businesses.
