Shreyas Shipping to takeover Balaji Shipping

The transaction will be carried out via the issuance of new shares to TWH.

Dubai-based Balaji Shipping Lines is a carrier that specialises in refrigerated and dry cargo between the Indian subcontinent and Middle East.

The form has a presence in Dubai, Saudi Arabia, Oman and UK through its subsidiaries.

In a statement, Shreyas Relay Systems said: “Upon the said acquisition, SRS would be able to extend its reach internationally and become a global logistics player offering door-to-door multimodal movement of cargo not only within Indian boundaries but also internationally.

“This acquisition brings to the table an immense opportunity to expand its scope within the logistics segment.”