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Allcargo Logistics surges on getting SEBI’s approval to acquire additional 26% stake in Gati

05 Mar 2020 Evaluate

Allcargo Logistics is currently trading at Rs. 114.05, up by 3.65 points or 3.31% from its previous closing of Rs. 110.40 on the BSE.

The scrip opened at Rs. 114.05 and has touched a high and low of Rs. 114.10 and Rs. 112.50 respectively.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 126.00 on 14-Mar-2019 and a 52 week low of Rs. 87.35 on 04-Sep-2019.

Last one week high and low of the scrip stood at Rs. 114.10 and Rs. 106.50 respectively. The current market cap of the company is Rs. 2712.48 crore.

The promoters holding in the company stood at 70.01%, while Institutions and Non-Institutions held 16.11% and 13.87% respectively.

Allcargo Logistics is all set to acquire additional 26% stake in Gati as it has received SEBI approval on its open offer to acquire approximately 3.17 crore shares at Rs 75 per share. On full acceptance of the open offer it will take Allcargo's stake in Gati to 46.83%. This will mark the completion of the acquisition process which was initiated on December 5, 2019. The open offer is expected to be launched in March 2020 and closed by April 2020. Preferential allotment and part purchase of promoter shares has also been completed by Allcargo in January 2020. As part of this process, two directors of Allcargo have been appointed on the Gati Board.

The acquisition will help to strengthen company’s domestic business. It will help to consolidate company’s position as the true end-to-end logistics solutions provider. It will create a lot of value by leveraging the express logistics business of Gati with company’s current logistics courier and parcel logistics (CPL) business.

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.

Allcargo Logistics Share Price

9.58 -0.07 (-0.73%)
17-Apr-2026 16:59 View Price Chart
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