 "Gateway Distriparks ends at Rs 75 on relisting, valuation at Rs 3,730 cr")
Shares of logistics firm Gateway Distriparks, which relisted on Tuesday following a scheme of amalgamation, finished at Rs 75, valuing the company at Rs 3,730 crore.
The Street was expecting the stock to list above Rs 90–close to the adjusted price pre-amalgamation.
Following the scheme of amalgamation two of its subsidiaries-- Gateway East India and Gateway Rail Freight have ceased to exist.
The reorganisation was done to bring in greater operational synergies, improve cash flows and reduce costs. Philip Capital in a recent note had issued a price target of Rs 111 for the stock.
Gateway Distriparks is India’s leading private sector rail and Container Freight Station (CFS) operator.
The Street was expecting the stock to list above Rs 90–close to the adjusted price pre-amalgamation.
Following the scheme of amalgamation two of its subsidiaries-- Gateway East India and Gateway Rail Freight have ceased to exist.
The reorganisation was done to bring in greater operational synergies, improve cash flows and reduce costs. Philip Capital in a recent note had issued a price target of Rs 111 for the stock.
Gateway Distriparks is India’s leading private sector rail and Container Freight Station (CFS) operator.
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