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Gateway Distriparks hits new high on hopes of Gateway Rail Freight IPO

The stock has surged 10% to Rs 400 on the National Stock Exchange.

SI Reporter  |  Mumbai 

has surged 10% to Rs 400 on National Stock Exchange (NSE) after Blackstone GPV Capital Partners requested the company to effect initial public offer (IPO) of Limited.

(Investor) have sent a letter dated January 16, 2015 to the company and the company's subsidiary company - Limited (GRFL) requesting the company to effect an of GRFL in accordance with the terms of the Share Subscription & Shareholders Agreement (SSHA) dated November 09, 2009,” said in a BSE filing.

The company will respond to the request from the investor in due course. This will have no impact on the operations or profitability of the company, it added.

In November 2009, Blackstone Group announced the acquisition of a 37.5% stake for Rs 300 crore in

The stock opened at Rs 369 and touched a record high of Rs 407 on NSE. The counter has seen huge trading volumes with a combined 648,450 shares changed hands till 1010 hours on NSE and BSE.

First Published: Mon, January 19 2015. 10:12 IST