AVG Logistics Forms Joint Venture with Baidyanath LNG Private Limited
AVG Logistics Limited has incorporated a Joint Venture Company in collaboration with Baidyanath LNG Private Limited. While the specific details regarding the business scope of the Joint Venture Company will be shared at a later date, the collaboration marks a strategic development for the company.The transaction involves the establishment of a joint venture, which is noted as a related party to AVG Logistics Limited. The primary business focus of the new entity will be in the Logistics sector.
Details regarding the joint venture, including the target entity and transaction specifics, are outlined below:
| Particulars | Details |
|---|---|
| Target Entity Name | Carbonlite Logistics Private Limited |
| Authorized Capital | Rs. 10 Lakhs |
| Paid Up Capital | Rs. 10 Lakhs |
| Industry | Logistics |
| Objects of Acquisition | The company shall carry out the business of Logistics. |
| Consideration Structure | 50% shares shall be subscribed by AVG Logistics Limited in cash, and 50% shares shall be subscribed by Baidyanath LNG Private Limited (BLNG) in cash. |
| Shareholding Acquired | 50% |
The incorporation of the joint venture aims to facilitate the company's operations within the logistics industry. The joint venture company is classified as a related party of AVG Logistics Limited.
AVG Stock Price Movement
Today, AVG Logistics Limited shares shed 4.51% of value, settling at ₹159.85 as the market closed. Trading saw a volume of 21,202 shares recorded throughout the session as the equity finished the day significantly lower.Source:
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