Mahindra Logistics (NSE:MAHLOG, BOM:540768) has received board approval to invest an additional amount of up to 350 million Indian rupees in its wholly owned subsidiary MLL Express Services, according to a Wednesday filing to the Indian stock exchanges.
The investment will be made by way of subscription to rights issue by MLL Express of up to 35 million equity shares of 10 rupees each.
MLL Express provides B2B express logistics services across the value chain under the brand name "Rivigo by Mahindra Logistics".
Shares of the company were up 4% in recent trade.
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