Deccan Transcon Leasing Acquires Equity Stake in Malaysian Logistics Firm, boosting Ownership to 70.48%
Deccan Transcon Leasing Limited has approved an acquisition of an equity stake in its overseas subsidiary, Deccan Shipping & Logistics Sdn. Bhd. (DSL Malaysia). The purchase strengthens the company's strategic investment in the freight forwarding and logistics sector.The transaction involves acquiring 232,870 equity shares of DSL Malaysia from Mr. Bejoy Varghese Vallikkunnel. This acquisition elevates Deccan Transcon Leasing's shareholding from 55.14% to 70.48% of the paid-up equity share capital of DSL Malaysia.
DSL Malaysia operates in freight forwarding, logistics and shipping services and is based in Malaysia. The company has been a subsidiary of Deccan Transcon Leasing. The acquisition is intended to facilitate the exit of Mr. Bejoy Varghese Vallikkunnel from the entity and solidify the strategic holding of the Indian company in its Malaysian operations.
The purchase was conducted through cash consideration, with the cost set at approximately ₹50.25 lakh (Rupees Fifty Lakh Twenty- Five Thousand Three Hundred Thirty-Five only). This cost was determined based on an independent valuation report, which assessed the fair value of approximately ₹21.58 per equity share.
The proposed acquisition is contingent upon the execution of the Share Purchase Agreement and the fulfillment of all customary closing conditions and applicable statutory requirements in India and Malaysia. Indicatively, the completion is expected upon these agreements being executed and regulatory compliances being met.
Financial Performance of DSL Malaysia
DSL Malaysia recorded significant revenue across the last three financial years. The operational overview of the entity includes:| Financial Year | Revenue (USD) | Approximate Revenue (INR) |
|---|---|---|
| FY 2023-24 | 12,537,273 | ₹120.89 crore |
| FY 2024-25 | 12,943,354 | ₹124.81 crore |
| FY 2025-26 | 9,919,772 | ₹95.67 crore |
The acquisition involves acquiring the 15.34% stake held by Mr. Bejoy Varghese Vallikkunnel. Upon completion of the transaction, Deccan Transcon Leasing's total shareholding will stand at 10,69,809 equity shares out of the paid-up capital of DSL Malaysia.
DECCANTRAN Stock Price Movement
On Friday, Deccan Transcon Leasing Limited shares edged higher to close at ₹20.85, after gaining 0.24% from the previous close. The stock recorded a trading volume of 1,200 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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