Aqua Logistics To Raise $70 Mn For Acquisitions
Aqua Logistics is planning to raise $70 Mn through various routes to fund its acquisition plans.
It is looking at acquiring 4-5 companies in Indonesia, Thailand, Singapore, Vietnam and Russia.
Established in 1999, Mumbai based - Aqua logistics which started as a freight forwarding company a decade back, is a third party logistics service provider. It is promoted Rajesh Uchil, MS Sayad, Harish Uchil and Gopalkrishna Uchil.
Transaction Reference: DNA
Aqua Logistics recently acquired 3 Hong Kong-based companies - CIT Logistics Ltd, TAG Logistics Ltd and AGI Logistics Ltd through its subsidiary Aqua Logistics HK Pvt Ltd.
Beginning of this year, it has raised Rs 150 Cr through IPO by diluting 32-33% of the stake valuing the company at around Rs 450 Cr (around $97 Mn). Neither of its earlier investor including Enam Shares & Securities, Carwin Mercantiles and Shubkham Ventures have exited during IPO.
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