Gateway Distriparks ends at Rs 75 on relisting, valuation at Rs 3,730 cr

Shares of logistics firm Gateway Distriparks, which relisted on Tuesday following a scheme of amalgamation, finished at Rs 75, valuing the company at Rs 3,730 crore.

The Street was expecting the stock to list above Rs 90–close to the adjusted price pre-amalgamation.

Following the scheme of amalgamation two of its subsidiaries-- Gateway East India and Gateway Rail Freight have ceased to exist.

The reorganisation was done to bring in greater operational synergies, improve cash flows and reduce costs. Philip Capital in a recent note had issued a price target of Rs 111 for the stock.

Gateway Distriparks is India’s leading private sector rail and Container Freight Station (CFS) operator.