Allcargo Logistics experienced a 3 % surge in its shares on June 6, following the announcement of a significant divestment by Transindia Real Estate. Transindia Real Estate has agreed to divest a 10 % stake in the five Allcargo subsidiaries and its complete holding in Allcargo Multimodal to Blackstone.
Allcargo Logistics has embarked on a restructuring plan that involves the creation of two additional firms, resulting in the company’s division into three listed entities: Allcargo Logistics, Allcargo Terminals, and Transindia Real Estate.
At the time of writing, shares of Allcargo Logistics were trading at Rs 284.80, reflecting a 3.11 % increase on the BSE.
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