Allcargo gets SEBI nod to launch open offer for Gati shareholders

March 05 , 2020
Publication: Hindu Business Line
Source: https://bit.ly/2W8u0ht

Aims to raise its stake in Gati to 46.83%

Allcargo Logistics said on Wednesday that it has received SEBI approval to hold an open offer to acquire approximately 3.17 crore shares or 26 per cent stake in Gati Ltd at ?75 a share.

If the open offer is fully subscribed by the retail shareholders, it will take Allcargo’s stake in Gati to 46.83 per cent, helping it emerge as the controlling stake holder in Gati.

The open offer is expected to be launched between March and April 2020.

 

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