Shreyas Shipping and Logistics Limited (SSL) has accorded approval to its wholly owned subsidiary, Shreyas Relay Systems Limited (SRSL), to acquire a 99.99 per cent stake in Balaji Shipping Lines FZCO, Dubai. The approval was granted on March 9, 2017 for the acquisition of the stake via an issue of equity shares (for a consideration other than cash or cash equivalent). SRSL will issue fully paid-up equity shares to Transworld Holdings Limited, Mauritius. Consequent to the issue, SSL will hold less than 50 per cent of the shareholding in SRSL.