Mahindra Logistics to acquire Whizzard for Rs 720 million

Mahindra Logistics Limited has decided to purchase up to 60 per cent of Whizzard, a supplier of last-mile delivery services, for Rs 717.3 million. The acquisition comprises purchase of up to 43,972 equity shares of Re 1 each at a premium of Rs 6,692.02 per share and subscription of up to 63,200 Series A CCCPS of Rs 100 each at a premium of Rs 6,593.02 per CCCPS. Mahindra Logistics’ existing last-mile delivery company and its EV-based delivery service, EDeL, will be complemented by the purchase.

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