Allcargo Group restructuring: Contract Logistics with Gati, International Supply Chain to become independent businesses financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Allcargo Logistics and Allcargo Gati approve scheme for business restructuring thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
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.
Allcargo Gati Ltd. has approved plans to raise up to Rs 500 crore through various means and announced major restructuring that would demerge its global supply chain unit and logistics business. The board approved the fundraise proposal to meet capex and working capital requirements, according to an exchange filing on Thursday. The plan is subject to shareholder and regulatory approvals.