Eastern Treads To Acquire Shipnext Solutions
Eastern Treads Limited has informed that the board of directors of the company at its meeting approved the proposed investment in Shipnext Solutions Private Limited. The Company is proposing to acquire 55% of its shareholding (14,41,550 number)' of the equity shares at the agreed price of Rs 0.18 per share, amounting to 2.59 Lakhs.
Shipnext Solutions Private Limited is formed with the object of preparing and managing fleet management aggregator platform. It is engaged in the development of IT software for fleet management aggregation in IT platform.
By investing in this company the business of Eastern Treads Limited will be benefited as the end consumers of the two business are the same and we will get an aggregated platform of consumers to market the company products as well.