Kesar Terminals Completes Transfer of 100% Stake in Subsidiary, Settles Bank Dues

Kesar Terminals & Infrastructure Ltd has completed the transfer of its 100% equity and preference stake in its wholly owned subsidiary, Kesar Multimodal Logistics Limited (KMLL), to DP World Multimodal Logistics Pvt Ltd. This transaction, pursuant to the Share Subscription & Share purchase Agreement (SSPA) dated September 11, 2023, also resulted in the settlement of KMLL's bank dues. Consequently, Kesar Terminals' liability as a Corporate Guarantor in respect of KMLL's bank dues has been extinguished, except for a small amount of non-fund based facility which will also be settled by DPW. This development allows Kesar Terminals to receive its due funds and be free of KMLL's liabilities, enabling it to focus on its core activities and look forward to expansion in other parts of the country.