TCI Express to acquire Singapore subsidiary for regional expansion

TCI Express Limited announced on October 30, 2025, that its board of directors will consider and approve the acquisition of 100% equity shares of TCI Global (Singapore) Pte. Ltd. by TCI Express Pte. Ltd., a step-down wholly owned subsidiary. This strategic move aims to expand TCI Express's footprint in Singapore.

The transaction is identified as a related-party transaction, with Chander Agarwal, managing director of TCI Express, also serving as a director of TCI Global (Singapore) Pte. Ltd. All involved companies are related parties under common control of the promoter group, and the transaction is deemed to be at arm's length.

The acquisition will be settled via cash consideration. The cost of acquisition and the percentage of shareholding acquired will be disclosed following the board meeting scheduled for November 6, 2025. TCI Global (Singapore) Pte. Ltd., which operates in the logistics industry, currently has nil turnover for the last three years. The acquisition is expected to be completed after the necessary approvals.