Promoter's Acquisition of Stake in SG Green Logistics by Utkarsh Jain; Details Released
North Eastern Carrying Corporation Ltd has announced that its Promotor and Director, Mr. Utkarsh Jain, has acquired a stake in SG Green Logistics Private Limited. The acquisition was undertaken solely in his individual capacity.Mr. Jain purchased 3,356 Equity Shares, representing a 12 percent shareholding, in the logistics firm using cash consideration. The cost of this acquisition was reported at Rs. 35.99 Crores.
The transaction does not constitute a related party transaction and has no material object or impact on North Eastern Carrying Corporation Ltd. as Mr. Jain acquired the shares personally, independent of the Company's operations, management, or shareholding structure.
SG Green Logistics Private Limited operates in the logistics industry. The company was incorporated in India on April 21, 2022, for the purpose of engaging in fleet carriage and goods transportation.
The target entity has demonstrated steady growth in turnover over the past three fiscal years. Key financial details for SG Green Logistics are presented below:
| Year Description | Turnover (Rs. in Crore) |
|---|---|
| 2023-2024 | 49.57 |
| 2024-2025 | 64.16 |
| 2025-2026 | 83.37 |
The acquisition falls under the logistics sector, and no governmental or regulatory approvals were required for this transaction.
NECCLTD Stock Price Movement
Shares of North Eastern Carrying Corporation Limited are shedding value, dipping by 0.69% and currently trading at ₹17.30 as of 11:32 AM today. The stock has seen considerable activity, with 108,376 shares traded during the live market 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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