Temasek to pick up 28% stake in First Flight

Temasek is picking 27.74% equity stake in courier and express delivery firm First Flight in a deal worth Rs 107.5 crore. Mumbai-based First Flight, which is a public limited unlisted company promoted by the Saboo family, is the second largest domestic courier company with revenues of around Rs 300 crore. It is the largest domestic private equity deal in the courier and logistics space.