Ramco Industries Ltd. invests Rs. 2.35 crore in Lynks Logistics Limited by way of subscribing to 2,35,57,254 equity shares of Re.1/- each, through their Rights Issue. It had previously invested Rs 5 crore in the logistics company.
Tamil Nadu based Ramco Industries manufactures Fiber Cement (FC) sheets and Calcium Silicate Boards (CSBs). The Company’s segments are building products, textile and power generation from wind mills. The cement company is part of the US $1 billion Ramco Group with interests in Cement, Dry Wall & Ceiling products, Roofing products, Cotton yarn. It currently operates 12 plants across South Asia.
Consequent to the investment, the total shareholding of our Company in Lynks Logistics Limited is 22,54,57,254 shares of face value of Re.1/- each constituting 23.35% of its paid up share capital. The disclosure required under Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed. The company said in its BSE regulatory filing.
The object of the Lynk Logistics Ltd. 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.
Chennai based Lynks Logistics Limited was incorporated in 2015, for providing technology platform to link supply and demand of goods transportation in a timely location aware way. It acts as an “Aggregator” or “Service Provider” to link Providers of Transport Service and availers of Transport Service, through modern technology platforms.
On September 4, the stock closed at Rs 186.00 on the NSE.
