Rivigo's B2B express division expected to be acquired by Mahindra

28 Sep 2022 CW Team

Rivigo Services (RSPL) and Mahindra Logistics (MLL) announced that they had struck an agreement for the former to sell its B2B express business to the former for Rs 2.25 billion. The transaction is anticipated to close on or before November 1.

According to the terms of the contract, MLL will purchase the express business through a Business Transfer Agreement (BTA), including the clients, personnel, and assets of Rivigo's B2B express business, as well as RSPL's technological infrastructure and the Rivigo name. The rights to the full truckload (FTL) operations and the RSPL truck fleet will both remain its property.

Utilizing Rivigo's robust network, technology, and process skills, this acquisition will strengthen Mahindra Logistics' current B2B express business. Over 19,000 pin codes are currently covered by Rivigo's B2B express network across the country. Their more than 250 processing facilities and branches, covering more than 1.5 million sq ft, will significantly strengthen MLL's express business potential.

Also read:
DHL to invest Rs 4k crore in India over next 5 years
Industrial hubs worth 110 billion for Uttar Pradesh

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..