Allcargo hits the roof on delisting plan

Allcargo Logistics hit an upper circuit of 20% at Rs 130.80 as the promoters have proposed to delist the company.

Allcargo Logistics on Monday said that its promoter group, including Shashi Kiran Shetty and Talentos Entertainment, have intimated the company of their plans to delist it from the bourses.

The promoter group collectively hold 17.20 crore shares aggregating to 70.01% of the paid-up equity share capital of the company, while public shareholders hold 29.99%.

The company's board will meet on 27 August 2020 to consider the delisting proposal and to appoint merchant banker for carrying out due diligence.

Allcargo Logistics is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations, and project and engineering solutions.

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