Gateway Distriparks has received approval from its board to raise funds upto Rs 620 crore by issue of debt securities including nonconvertible debentures and any other instruments. The company will use this fund for making balance payment to complete the acquisition of Compulsory Convertible Preference Shares (CCPS) in subsidiary company, Gateway Rail Freight (GRFL) from Blackstone and towards expansion of business or other corporate purpose.
Gateway Distriparks is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form.
