Allcargo boosts single-largest investor status in Gati, ups stake to 20.8%

Share purchase from Gati promoters marks end of second phase of deal

Consolidating its position as the single-largest shareholder in the express logistics company Gati, Mumbai-based Allcargo Logistics has increased its stake in the former to 20.8 per cent by acquiring an additional 7.5 per cent stake on Tuesday.

The Avvashya Group company had taken its stake to 13 per cent in Gati last week, via a preferential allotment and through open market purchases. With this, Allcargo Logistics today has inched further in its majority stake buy and is on track to complete the process to acquire 44.5 percent stake in Gati, the total deal size of which is Rs 416 crore.

While Allcargo