Allcargo Logistics acquires additional 7.5% in Gati

Allcargo Logistics acquires additional 7.5% in Gati
Allcargo Logistics informed the exchanges post market hours Tuesday that the company has till now acquired 2,54,03,340 equity shares i.e. 20.83% stake of Gati Limited ("Gati") in the following manner:
  • 1,33,33,340 equity shares at a price of Rs75/equity share through subscription to the preferential issue made by Gati vide allotment dated January 21, 2020
  • 57,81 ,601 equity shares through open market purchase till date
  • 62,88,399 equity shares are purchased through Open Market from Mr Mahendra Kumar Agarwal, Mahendra Investment Advisors Private Limited and TCI Finance Limited, pursuant to Share Purchase Agreement executed on December 05, 2019. 
Stock view:
Allcargo Logistics Ltd ended at Rs117.05 down by Rs1.2 or 1.01% from its previous closing of Rs118.25 on the BSE.
The scrip opened at Rs121.30 and touched a high and low of Rs122.70 and Rs116.30 respectively. A total of 19,95,879 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs2,875.87cr.

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