/ Sical Logistics Acquires Patchems Private For Rs 9.5 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 13 June 2017

Sical Logistics announced that it has completed the acquisition of Patchems Private Limited, an integrated supply chain solution provider including warehousing/logistics, for a total consideration of Rs 9.50 crore, the company informed the regulator in a filing.

Patchems Private Limited is a logistics company and provides other value-added services to clients in Pharma and FMCG space. It manages approximately 4 lakh sq.ft. of ware house space for various clients based out of Bhiwandi, in the outskirts of Mumbai.

The company’s gross turnover for FY2016-17 is Rs 22.15 crore as compared to Rs 20.29 crore for 2015-16.

Sical Logistics in the filing added that the company has acquired 51% of the share capital during the month of June 2017 and the balance will be acquired in staggered stages and will be completed on or before 30 June 2020.

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