Neptune Logitek to acquire 100% of Neptune Maritime Pvt Ltd

Neptune Logitek Ltd announced its board's decision to acquire 100% of the paid-up equity share capital of a proposed company, Neptune Maritime Private Limited. The acquisition involves 1,00,000 equity shares of Rs. 10 each, at face value. This move is strategic, aligning with Neptune Logitek's investment in the logistics business, specifically freight forwarding services via sea, rail, and road. The transaction is considered a related party transaction as the promoter group holds a controlling interest. The acquisition's completion is tied to the incorporation date of Neptune Maritime Private Limited. The authorized and paid-up share capital of the target entity will be Rs. 10,00,000.