RAMCO Industries increases stake in Lynks Logistics to 29.2%
Building materials manufacturer RAMCO Industries has increased its shareholding in Lynks Logistics Limited to 29.26% through an additional investment of around Rs 9.5 crores for acquiring as many shares at Rs1 each.
Following the investment, the total shareholding of RAMCO Industries in Lynks Logistics is 38,03,78,615 shares of face value of Re.1/-. Ramco Cements, the promoter of RAMCO Industries, is the largest shareholder in the logistics company with a stake of 38.43%.
In March 2021, RAMCO Industrie invested Rs 5,98,27,333/ in Lynks Logistics to take its stake in the latter to 23.78%.
RAMCO Industries increases stake in Lynks Logistics to 29.2%. Photo courtesy of Free-Photos from Pixabay.
Established in 2015, the Chennai-based Lynks Logistics has developed a web based platform for facilitating a link between transporters and the people availing such transport service.
For the year ended 31 March 2021, the Indian logistics company had a provisional turnover of Rs 79.7 crores.