Allcargo Logistics gets Sebi nod for open offer to buy 26% in Gati

Multi-modal logistics firm initiates final phase of stake buy in Gati

In the third and final phase to become the controlling stakeholder in express logistics company Gati, Allcargo Logistics on Wednesday said it had received the Securities and Exchange Board of India (Sebi) approval on its open offer to acquire nearly 31.7 million share or 26 per cent stake in Gati at Rs 75 per share. 

Full acceptance of the open offer will take Allcargo’s stake in Gati to 46.83 per cent, marking completion of the acquisition process, which was initiated on December 5, 2019. 

Shares of Gati on Wednesday ended at Rs 66.55 per share on the BSE. Meanwhile, shares of Allcargo