Allcargo Logistics is going to acquire around 44 percent stake in Gati for nearly Rs 416 crore, marking its foray into the express logistics market. Under a three-phased deal, Allcargo will first buy over 1.03 crore shares and subscribe to a preferential issue of over 1.33 crore shares (collectively 18 percent shares) held by promoters and promoter group of Gati, including Mahendra Kumar Agarwal, Mahendra Investment Advisors and TCI Finance and also Gati, at Rs 75 a share.
In the second leg of the transaction, Allcargo will make an open offer to buy another 3.17 crore more shares, representing 26 percent of the paid-up voting equity share capital (post-preferential issue and vesting of stock options) from the retail shareholders of Gati at Rs 75 a share, taking the total deal value to around Rs 416 crore.
Allcargo Logistics is an India-based holding Company. The company is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations etc.
| Company Name | CMP |
|---|---|
| Allcargo Logistics | 9.58 |
| TVS Supply Chain Sol | 115.39 |
| Container Corp | 502.80 |
| Delhivery | 463.10 |
| Mahindra Logistics | 432.00 |
| View more.. | |
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