Tata Motors and Freight Commerce Solutions Private Ltd have 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 ₹150 crore.
The SSA also includes a provision enabling Tata Motors to further invest ₹100 crore over the next two years, at the then prevailing market value.
‘Freight Tiger’ is a digital platform that provides end-to-end logistics value chain solutions for cargo movement in the country.
It connects shippers, carriers, logistics service providers and fleet owners to a single digital marketplace, making it easy to find, book and manage freight.
Girish Wagh, Executive Director, Tata Motors Ltd said, “We believe that by playing a larger and deeper role in bringing all the stakeholders together to improve road logistics efficiency, we can create value for our core customers: the fleet owners. Hence, we are excited to announce our partnership with Freight Tiger.”
