Tata Motors picks up 26.79% stake in Freight Tiger

xThe Securities Subscription Agreement has a provision to enable Tata Motors to invest another Rs 100 crore over the next two years, at the then prevailing market price.‘Freight Tiger’ is an online platform that provides end-to-end logistics value chain solutions for cargo movement in the country. It connects shippers, carriers, logistics service providers and fleet owners to a single digital marketplace.Commenting on the acquisition, Girish Wagh, Executive Director, Tata Motors Ltd said: “We believe that by playing a larger and deeper role in bringing all the stakeholders together to improve road logistics efficiency, we can create value for our core customers: the fleet owners. “Hence, we are excited to announce our partnership with Freight Tiger, a pioneer in digitizing the logistics industry. Together, we will create new opportunities for growth and value creation for our customers, partners and stakeholders.--IANS pannu/dan

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)