Tata Motors To Acquire 26 79 Stake In Freight Tiger For Rs 150cr

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Tata Motors to acquire 26.79% stake in Freight Tiger for Rs 150Cr

ri-calendar-2-lineOct 20, 2023

By: BlinkX Research Team

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Tata Motors has entered into a shareholders agreement (SHA) and a securities subscription agreement (SSA) with Freight Commerce Solutions for the purchase of a 26.79% stake in the digital platform, Freight Tiger. The Mumbai-based automotive manufacturer disclosed in a regulatory filing that it will invest Rs 150 crore for this acquisition.

 

The SSA also includes a provision allowing Tata Motors to make additional investments, amounting to Rs 100 crore, over the next two years at the prevailing market valuation. Freight Tiger, a digital platform, provides end-to-end solutions for the nation's cargo flow, streamlining logistics operations.

 

Aside from offering a suite of Software as a Service (SaaS) solutions for digitizing and optimizing logistics processes such as freight tracking, assignment, carrier matching, documentation, and payment processing, the platform connects shippers, carriers, logistics service providers, and fleet owners through a unified digital marketplace.

 

Over the past seven years, the platform has integrated and streamlined cargo transfers, enhancing efficiency in approximately 10 million journeys annually.

 

Girish Wagh, Executive Director of Tata Motors, expressed, "We are committed to revolutionizing the road logistics sector with our cutting-edge products and services. We believe that by involving more parties and deepening our efforts, we can bring value to our key clients, the fleet owners, and enhance the efficiency of road logistics."

 

Freight Tiger's Founder and CEO, Swapnil Shah, emphasized that software-driven strategies play a pivotal role in transforming existing industry assets, ultimately increasing their effectiveness for the benefit of all stakeholders.

Stay ahead in the market with real-time updates on Tata Motors market cap.

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