Hegde will continue to be joint managing director of Allcargo Logistics
The company on Saturday announced that its promoters have set the floor price at Rs 92.58, which is 19% lower than the firm's last closing price of Rs 114.5 on Monday
The Board will meet on August 27 to consider the delisting proposal
The partnership will help Allcargo's growing third-party logistics business into which it had invested around Rs 1,000 crore
Multi-modal logistics firm initiates final phase of stake buy in Gati
Share purchase from Gati promoters marks end of second phase of deal
The Avvashya Group company is now well on track to complete the process to acquire 44.5 percent stake in Gati, the total deal size of which is Rs 416 crore
Allcargo to become minority stake holder in its logistics park business
The chairman of AllCargo Logistics says his aim is is to double the margin in the express segment to 10%
The company has already chalked out a plan to become a majority stakeholder in the express business, its chairman said.
The company has already chalked out a plan to become a majority stakeholder in the express business
Allcargo is in discussions to acquire Gati, that's 6 per cent owned by Goldman Sachs Group, at an equity valuation of about Rs 13 billion
Allcargo's logistics division plans to build 5 million square feet of warehouses across India by 2021
Allcargo is also developing multimodal logistics park in Jhajjar, Haryana
The proposed logistics parks will come up at Jhajjar in Haryana, Bengaluru; JNPT and Hyderabad
ECU Worldwide is a traditional non-vessel operating common carrier, where the company does not own a ship but owns slots for cargo
Around 15% of total equity of Allcargo Logistics changed hands via block deal on BSE.
The company's stock ended at Rs 189.40, down 3.02% on BSE
Income, however, fell marginally to Rs 293.8 cr in Jan-March quarter of last fiscal from Rs 294.4 cr a year ago