Allcargo stocks in news

about 2 months ago
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Allcargo Logistics, currently the top gainer on the BSE, surged more than 10% to hit an intraday high at Rs.314; Allcargo Gati meanwhile is having a mixed run- it first rose 8% to Rs.148.75 and then slipped 7% to trade in the red at Rs.128.10.

Allcargo Logistics rose after it announced its decision to restructure its business under Allcargo and Allcargo Gati Limited (formerly Gati Limited).

As per the composite scheme of arrangement for restructuring of businesses, the International Supply Chain (ISC) business will be demerged into a separate entity, Allcargo ECU. This will include the India part of international supply chain business along with the international subsidiaries held under the ECU Worldwide NV. 

Allcargo Logistics will now have express business and contract logistics business.

As per the approved swap ratio, based on the recommendations of the independent valuers, shareholders of Allcargo Gati will get 63 shares in the resulting Allcargo Logistics entity (post ISC demerger) for every 10 shares held in Allcargo Gati.

Shareholders of Allcargo will get 1:1 shares in the demerged Allcargo ECU Limited and continue to hold their shares in Allcargo Logistics, which will now be the resulting entity holding Express and Contract Logistics business directly. This takes into account 3:1 bonus shares approved by shareholders for Allcargo Logistics recently.

85.20 (+10.19)

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