RAMCO Industries Ltd increases stake in Lynks Logistics Ltd to 23.78%

RAMCO Industries Ltd has invested Rs.5,98,27,333/- in the Capital of Lynks Logistics Limited by way of subscribing to 5,98,27,333/- equity shares of Re.1/- each, through their Rights Issue.

Consequent to the investment, the total shareholding of our Company in Lynks Logistics Limited is 28,52,84,587 shares of face value of Re.1/- each constituting 23.78% of its paid up share capital.

The object of the Lynks Logistics Limited is to enter into the business of aggregators in logistics field. The object of the venture is to develop a web based platform, which would provide a link between the transporters and the persons availing such transport service. The experience in logistics of Group Company viz. The Ramco Cements Limited can be leveraged for the operation of this new venture and for mutual benefit.

Lynks Logistics Limited was incorporated on 18.12.2015, for providing technology platform to link supply and demand of goods transportation in a timely location aware way. This is an "Aggregator" or "Service Provider" to link Providers of Transport Service and Availers of Transport Service, through modern technology platforms. The Registered Office is at Chennai.

Shares of RAMCO INDUSTRIES LTD. was last trading in BSE at Rs.256.1 as compared to the previous close of Rs. 246.6. The total number of shares traded during the day was 1130 in over 65 trades.

The stock hit an intraday high of Rs. 256.25 and intraday low of 246.6. The net turnover during the day was Rs. 286287.

Source : Equity Bulls

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