Allcargo Logistics Ltd updates on acquisition

Allcargo Logistics Limited ("Company"), has entered into a Securities Purchase Agreement ("SPA") on February 21, 2023, with BRE Asia Urban Holdings Ltd. (the "Seller") to acquire: (a) 5,40,000 (Five Lakhs and Forty Thousand) equity shares (representing 90% of the equity share capital), and (b) 1,07,78,147 (One Crore, Seven Lakhs, Seventy Eight Thousand, One Hundred and Forty Seven) Class A Optionally Convertible Debentures ("Class A OCDs") of Madanahatti Logistics and Industrial Parks Private Limited (the "Target").

Madanahatti Logistics and Industrial Parks Private Limited is engaged in the business of warehousing leasing, it's management and such other related activities. The said acquisition of the Target Company aligns with the real estate business being demerged into TransIndia Realty & Logistics Parks Limited and is a strategic fit with future plans.

Shares of Allcargo Logistics Limited was last trading in BSE at Rs. 378.20 as compared to the previous close of Rs. 363.95. The total number of shares traded during the day was 64796 in over 3037 trades.

The stock hit an intraday high of Rs. 384.75 and intraday low of 364.90. The net turnover during the day was Rs. 24449557.00.

Source : Equity Bulls

Keywords

AllcargoLogistics INE418H01029 Acquisition MadanahattiLogisticsandIndustrialParks