The board of directors of Patel Integrated Logistics on Thursday approved the sale and transfer of the company’s surface transport business Patel Roadways for ₹38.50 crore. The company sold the division on a ‘going concern basis by way of slump sale’ to Innovative Logistics Service Private Limited, a wholly-owned subsidiary of Stellar Value Chain Solutions Pvt Ltd. Shares of Patel Integrated jumped 10.92 per cent at ₹56.90 on the BSE.