For an aggregate 60% stake in ZipZap Logistics on fully diluted basis
Mahindra Logistics has entered into Share Purchase Agreement, Share Subscription Agreement and Shareholders' Agreement (Agreements) on 28 February 2022 for acquisition of up to 43,972 equity shares and for subscribing up to 63,200 Series A Compulsorily Convertible Cumulative Preference Shares of ZipZap Logistics (Whizzard), in tranches.The Acquisition would result in the Company holding, in aggregate, up to 60% of Share Capital of Whizzard, on a fully diluted basis.
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