KTPL Promoters Outbid Prudent ARC with ₹472 Crore Offer to Settle ₹590 Crore Debt
SJ Logistics' promoters, led by Nikhil Gandhi, have proposed a ₹472 crore one-time settlement to resolve the company's ₹590 crore debt. This offer surpasses a recent ₹460 crore bid from Prudent Asset Reconstruction Company in a Swiss challenge auction. Canara Bank leads the consortium of lenders. The settlement, if accepted, would cover about 80% of the total debt. SJ Logistics operates a strategic port and logistics facility in Navi Mumbai, benefiting from good connectivity and proximity to major ports.
30Jun 25
S J Logistics Secures Approval as Logistics Service Provider for Steel Authority of India Limited
SJ Logistics has received approval to become a logistics service provider for Steel Authority of India Limited (SAIL), one of India's largest state-owned steel-making companies. This new business relationship opens up growth opportunities for SJ Logistics in the steel and heavy industries logistics sector. The partnership is expected to enhance SAIL's supply chain operations and potentially increase business volume and revenue for SJ Logistics. While specific service details are not disclosed, this collaboration is likely to contribute to the efficiency of SAIL's operations.