TCI Express Limited has successfully completed its acquisition of TCI Global (Singapore) Pte. Ltd., marking a strategic expansion into the Singapore logistics market. The transaction was finalized on January 26, 2026, through the company's wholly owned subsidiary TCI Express Pte. Ltd.

Transaction Details

The acquisition involved the purchase of 100% equity shares from TCI Holdings Asia Pacific Pte. Ltd., a step-down wholly owned subsidiary of Transport Corporation of India Limited. Following the completion of this transaction, TCI Global Singapore has become a step-down wholly owned subsidiary of TCI Express Limited.

Target Company Profile

TCI Global (Singapore) Pte. Ltd. was incorporated in 2006 and operates in the transport, logistics, and related services sector. The company provides comprehensive logistics solutions and distribution services, aligning with the core business activities of the TCI group in the transportation and logistics sector.

Strategic Rationale

The acquisition is part of TCI Express's broader strategy to expand its presence in the Singapore region. The company indicated that acquiring TCI Global Singapore was expected to be faster and more cost-effective compared to establishing operations from scratch in the region.

Related Party Transaction

The transaction qualifies as a related party transaction, with Mr. Chander Agarwal, Managing Director of TCI Express Limited, also serving as a Director of TCI Global Singapore. All concerned companies are related parties through common control by the promoter group, though the transaction was conducted on an arm's length basis.

Regulatory Compliance

The acquisition required no governmental or regulatory approvals. TCI Express had previously informed the stock exchanges about the proposed acquisition through letters dated October 30, 2025, and November 06, 2025, ensuring full compliance with disclosure requirements under SEBI regulations.

TCI Express Limited has received confirmation that a significant GST demand order continues to remain in force, following an earlier disclosure made in December 2024. The logistics company informed stock exchanges on January 16, 2026, about the continuation of the demand order issued under the Goods and Services Tax Act, 2017.

GST Demand Order Details

The demand order pertains to the recovery of GST for a five-year period spanning from FY 2017-18 to FY 2021-22. The order was uploaded on the GST portal on January 14, 2026, by the Office of the Commissioner (Appeals) of Central Goods and Service Tax, Gurugram Commissionerate.

Company's Response and Legal Strategy

TCI Express has expressed confidence in its legal position regarding the GST demand. The company believes it has a strong case on merits and has announced its intention to file an appeal against the order before the GST Appropriate Authority. This represents the company's continued effort to challenge the demand through proper legal channels.

The logistics firm had previously disclosed this matter to the stock exchanges on December 23, 2024, when the original demand order was issued. The current communication serves as an update on the status of that earlier disclosure.

Financial and Operational Impact

According to the company's assessment, there is no material impact expected on its financials, operations, or other business activities despite the substantial demand amount. TCI Express maintains that the ongoing legal proceedings will not significantly affect its day-to-day operations or financial performance.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled its obligation to inform both the National Stock Exchange of India and BSE Limited about this material development, ensuring transparency with investors and stakeholders.

The information has also been made available on the company's official website, providing broader access to this important update for all stakeholders interested in TCI Express's regulatory and legal matters.