Allcargo to buy 44% stake in Gati for Rs 416 crore
Updated : December 06, 2019 12:25 PM IST
Allcargo to buy up to 1,03,85,332 equity shares of Gati Ltd at Rs 75 per share from some of the existing members of the Promoter and Promoter Group of Gati.
Allcargo will also subscribe to a preferential issue of 1,33,33,340 equity shares of Gati at Rs 75 per share.
Allcargo to make an open offer for acquisition of 3,17,42,615 equity shares representing 26 percent of the paid up voting equity share capital (post preferential issue and vesting of stock option) of Gati at a price of Rs 75 apiece.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more