 "Blue Dart Express buys majority stake in Blue Dart Aviation")
Now, the overall shareholding of the company in Blue Dart Aviation has increased to 70%.
Blue Dart Aviation has become a subsidiary of Blue Dart Express -- an integrated transportation and distribution company, according to a regulatory filing.
Also Read
However, financial details were not disclosed.
During its meeting today, Blue Dart Express' board of directors approved hiking stake in Blue Dart Aviation from the present 49% to 74%.
"Post the approval of the board, the company has acquired additional 21% and now company holds 70% stake into Blue Dart Aviation Ltd," the filing said.
Blue Dart Aviation is a leading player in the domestic air express market specialising in time-definite scheduled freight services for overnight next day delivery of express and cargo loads, as per its website.
Shares of Blue Dart Express rose over one% to close at Rs 6,068.05 on the BSE.