Mahindra Logistics Approves Rs. 35 Crore Investment in MLL Express Services

Mahindra Logistics Limited, a Mumbai-based logistics and transportation company, announced today that its Investment Committee has approved an investment of up to Rs. 35 crore in its wholly-owned subsidiary, MLL Express Services Private Limited (MESPL). The decision was made during a meeting held on Wednesday, March 5, 2025, as disclosed in a filing with the BSE Limited and the National Stock Exchange of India Ltd.

The investment will involve subscribing to a rights issue of up to 3.5 million equity shares of MESPL, each with a face value of Rs. 10, to be paid in cash at par. MESPL, which operates B2B express logistics services under the brand "Rivigo by Mahindra Logistics," reported a turnover of Rs. 364.22 crore for the financial year ending March 31, 2024. The capital infusion is intended to support MESPL’s working capital needs, ongoing operations, and general corporate purposes.

According to the company’s statement, the transaction will not alter its 100% ownership of MESPL, which will remain a wholly-owned subsidiary. The deal is classified as a related party transaction under the Securities and Exchange Board of India (SEBI) Listing Regulations but is exempt from certain requirements as it is conducted at arm’s length. Mahindra Logistics noted that, aside from its existing shareholding in MESPL, neither its promoters, promoter group, nor group companies have any additional interest in the subsidiary.

No governmental or regulatory approvals are required for the investment, which is expected to be completed by March 31, 2025. The announcement complies with Regulation 30(6) of the SEBI Listing Regulations, and further details have been made available on the company’s website.

The Investment Committee meeting, chaired by Mahindra Logistics, began at 9:32 a.m. IST and concluded at 9:53 a.m. IST. The company, headquartered at Arena Space in Jogeshwari (East), Mumbai, continues to focus on its logistics and transportation operations across India.