BSE-listed logistics giant receives NSE approval for direct listing on Mainboard

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Sindhu Trade Links, a diversified commercial services company, has received clearance from the National Stock Exchange (NSE) for direct listing of its shares on the Mainboard. Currently listed on the BSE, Sindhu Trade Links will now be able to directly sell its shares to the public without any intermediaries involved. This process, known as direct listing, does not require underwriters or a lockup period, and no new shares will be issued.

The company, with a market cap of Rs 3,500 crore, operates primarily in the transportation, logistics, construction, oil and lubricants, and coal mining sectors.

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The approval from NSE for direct listing on the Mainboard will enhance liquidity and expand Sindhu Trade Links’ shareholder base. Rudra Sen Sindhu, the chairman of the company, believes that this move will increase visibility and investor interaction, ultimately strengthening its presence in the market.

Headquartered in New Delhi, Sindhu Trade Links aims to eliminate its debt by the end of the current calendar year, leveraging the rapid expansion of its business operations in India and overseas. It recently reduced its secured debt from Rs 173.50 crore to Rs 99.16 crore, with the outstanding amount now below Rs 100 crore.

In the March quarter of FY2023, Sindhu Trade Links reported a net profit of Rs 11.05 crore, a YoY increase of 161%. Its net sales stood at Rs 120 crore.

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