Talking about the financials, the company has a market cap of over Rs 2,800 crore and has been maintaining a healthy dividend payout of 70 per cent. In its quarterly results (Q1FY24), the company reported net sales of Rs 1,293.22 (which is up by 8 per cent YoY) and a net loss of Rs 8.46 crore.

The acquisition will strengthen the company's current B2B express business and facilitate synergies in the network, team as well as customer service.    

The Mahindra Logistics Ltd stock have risen 9.21 per cent on the day.