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TCI EXPRESS to list on bourses in a month

Press Trust of India  |  New Delhi 

TCI EXPRESS, the demerged division of Transport Corporation of India, is planning to list its on the bourses in a month's time.

"We are waiting for approval. It (listing) should be done whenever we get that, this month next month, it should be on the stock exchange eventually," Chander Agarwal, Managing Director, TCI EXPRESS told PTI.

The company is planning to list on the bourses in a month, he added.

On the company's fund raising plans, he said, "Our flows are pretty strong so, we don't want to make any huge investments. We are waiting for to come in and after we would wait and watch for about a year and then we will look at any extraordinary big investments."

"However, we have about Rs 300 crore investments lined up for the next four years," he said.

The company has a turnover of about Rs 700 crore and plans to double it in the next four year's.

"In the past six months we have grown 15 per cent. We would see about the same 15-18 per cent growth," Agarwal said.

On the impact and implementation of in the express delivery sector he said, "is a boon for express delivery segment because you will have the inter-state check post removed which means that the goods will be moving faster so there will be a bigger demand for companies providing by the hour who write hours on their consignment."

When asked if the demonetisation move affected the company's business he said, "Not really. We have not taken any hit."

"This is very fantastic move by the government. I am convinced that this will be positive way for the future generations and for foreigners coming to and invest money," he added.

Established in 1996, as one of the foremost divisions of its parent company Ltd (TCIL), TCI EXPRESS demerged with a vision to become a leader in door-to-door express logistics player in

The key focus sectors for TCI EXPRESS include consumer electronics, retail, apparel and lifestyle, automobile, pharmaceuticals, engineering, e-commerce, energy/power and telecommunication.

The company has wide distribution network locally and globally with 550 owned centres at present covering more than 13,000 locations.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 15:32 IST