Allcargo Gati, one of India's leading express logistics companies, has successfully raised Rs 169.28 crores through a Qualified Institutional Placement (QIP) of equity shares, in compliance with SEBI ICDR Regulations.
The Fund Raise Committee of the Board of Directors approved the issue and allotment to successful institutional buyers at Rs 101 per equity share during its meeting on 28 June 2024. The QIP garnered significant participation from various investors.
Pirojshaw (Phil) Sarkari, MD & CEO of Gati Express and Supply Chain (GESCPL), expressed satisfaction with the QIP’s success, highlighting the investor confidence in the company’s strategy and market position. He stated, "The funds will enhance our financial strength and support growth across key segments. Investments will be directed towards technology, infrastructure, and deleveraging the balance sheet, setting the stage for robust growth."
Sarkari emphasised Allcargo Gati’s focus on superior customer experience through digital innovation and its commitment to delivering value and fostering sustainable growth within the logistics sector. As part of the Allcargo Group, the company is well-positioned for sustained long-term growth, leveraging the Group's established legacy and leadership.
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