Eiko Lifesciences Limited has announced its entry into the shipping and logistics industry through the formation of a subsidiary, EikoVivify Logistics Private Limited (EVL). This strategic expansion, developed as a joint venture with Vivify Wealth Management LLP, aims to diversify Eiko Lifesciences’ business operations by providing container leasing, logistics, and management services for a range of industries, including hazardous and non-hazardous chemicals. Eiko Lifesciences holds a 51% stake in EVL, while Vivify Wealth Management LLP owns the remaining 49%.
The joint venture partners plan to invest ₹100 crore over the next three years to support EVL’s growth and expansion initiatives. EVL will lease, rent, and manage shipping containers sourced both domestically and internationally, and it will offer maintenance and other logistics services to improve container management. The venture is expected to contribute to Eiko Lifesciences’ revenue streams starting in the last quarter of fiscal year 2024-25.
In line with this diversification, EVL is engaging in discussions with additional operational partners to enhance its service offerings, aiming to increase efficiency in supply chain operations while capitalizing on growth opportunities in the logistics sector.