TATA MOTORS LIMITED Bombay House 24, Homi Mody Street, Mumbai 400 001, Maharashtra, India Tata Motors signs Definitive Agreement to acquire 27% stake in ‘Freight Tiger’Securities Subscription Agreement and Shareholders Agreement • October 20th, 2023 • Tata Motors LTD/Fi • Motor vehicles & passenger car bodies
Mumbai, October 20, 2023: Tata Motors and Freight Commerce Solutions Private Limited (‘Freight Tiger’) have today signed a Securities Subscription Agreement (SSA) and a Shareholders Agreement (SHA) for the acquisition of 26.79% stake in ‘Freight Tiger’ for a consideration of Rs 150 Crores. The SSA also includes a provision enabling Tata Motors to further invest Rs 100 Crores over the next two years, at the then prevailing market value.
Tata Motors signs Definitive Agreement to acquire 27% stake in ‘Freight Tiger’Securities Subscription Agreement and Shareholders Agreement • October 19th, 2023
‘Freight Tiger’ is a digital platform that provides end-to-end logistics value chain solutions for cargo movement in the country. The platform connects shippers, carriers, logistics service providers and fleet owners to a single digital marketplace, making it easy to find, book and manage freight whilst offering a variety of Software as a Service (SaaS) solutions to digitize and streamline logistics interactions such as freight tracking, assignment, carrier matching, documentation, and payment processing. The platform facilitates more than 10 million trips on annualised basis and has been successfully integrating and ironing out inefficiencies in cargo movements over the last 7 years.
