Mumbai, Aug. 27: Hyderabad-based logistics firm Gati Ltd has acquired a 52.96 per cent stake in Delhi-based trucking firm Kausar India for Rs 14.28 crore.

Gati will buy 1,963,050 shares of Kausar India at the Delhi and Ludhiana stock exchanges at a price of Rs 72.84 per share with a face value of Rs 10.

Gati, which is headquartered at Secunderabad, delivers cargo and provides supply chain management solutions.

A few months back, the company signed an MoU with China Railway Express International Logistics Company for freight forwarding, ocean freight and courier and logistics services required in the trade between the two countries.

The company has also tied up with Indian to launch a joint venture courier company, IC-Zipp.

“In the wake of increasing demand in the retail industry, we were looking for a company which could facilitate our business by providing more vehicles. We believe that this step towards our inorganic growth will help us gain a better foothold in the industry,” a Gati official said.

Kausar India specialises in refrigerated transportation of perishable goods such as meat, dairy products and pharmaceuticals.

In addition to this share purchase agreement, Gati will make the mandatory open offer for an additional 20 per cent in Kausar.

The buyout will help Gati extend its reach to pharmaceutical and lifesciences customers across the country.

The company said the promoters and AMP Capital would fund the acquisition.

Gati’s shares rose 3.3 per cent to Rs 100.30 on the Bombay Stock Exchange today.

Gati registered an income of Rs 124.15 crore for the quarter ended June 31 and a total turnover of about Rs 458 crore.

The company has a fleet of about 2,000 vehicles, with a network spread across 594 districts in India.