NECC Director Acquires 12% Stake in SG Green Logistics

Nature of Event

Mr. Utkarsh Jain, Promoter and Director of NECC, acquired shares in SG Green Logistics Private Limited (Target Company) in his individual capacity. The company explicitly states that this acquisition has no material object or impact on NECC, as it was undertaken purely in Mr. Jain's personal capacity and bears no relation to the company's operations, management, or shareholding structure.

Transaction Details

• Target Company: SG Green Logistics Private Limited
• Industry: Logistics
• Acquisition Consideration: Cash payment of ₹35.99 Crores
• Shareholding Acquired: 12% (3,356 Equity Shares)
• Transaction Type: Not a related party transaction, conducted at arm's length
• Government Approvals: Not Applicable

Target Company Background

• Incorporation Date: April 21, 2022
• Business Purpose: Fleet carriage and goods transportation
• Financial Performance:
• 2023-2024: Turnover of ₹49.57 Crore
• 2024-2025: Turnover of ₹64.16 Crore
• 2025-2026: Turnover of ₹83.37 Crore

Financial Impact Assessment

The company explicitly states there is no material financial or operational impact on NECC arising from this transaction. No financial quantification of impact is provided as the transaction is personal to the director.