Macquarie Bank has acquired over 1% stake in Gati for Rs 10 crore through open market purchase. A unit of Australia’s Macquarie Group has purchased 1.02 million shares representing 1.18% stake of the company at an average price of Rs 97.02 per share in a bulk deal on May 20, 2014.
As on March 31, 2014, the promoters holding in the company stood at 38.11% while institutions and non-institutions held 0.90% and 60.99% stake in the company, respectively.
Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division. It also operates two container yards at Chennai and Port Blair which increases capability and provides for efficient handling of the cargo.