Ganesh Benzoplast Sells Tank & Rail Logistics Businesses for ₹1,154 Cr

Ganesh Benzoplast Limited's Board of Directors has approved the sale of its liquid storage tank business at JNPT, Cochin, and Goa terminals, along with its rail logistics business at Daund. The aggregate consideration for this proposed transaction is INR 1,154 Crores, subject to adjustments and requisite shareholder approval. The sale involves transferring the liquid storage tank undertaking to Cisternina Logistics Private Limited (CLPL) and the rail logistics business to ILSL Rail Logistics Private Limited, a subsidiary of Infrastructure Logistic Systems Limited (ILSL), with CLPL acquiring the latter. The liquid storage tank business contributed 39.29% to revenue and 41.72% to net worth in the last financial year, while the rail logistics business contributed 6.73% to revenue and 3.18% to net worth.