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Allcargo Logistics announces initial plan to delist shares

Business Line  

The promoter and promoter group of Allcargo Logistics Ltd have announced a plan to acquire all the equity shares held by public shareholders and voluntarily delist from the stock exchanges by making a delisting offer under the delisting regulations of stock market regulator Sebi. The proposed delisting is expected to align the group's capital and operational structures, streamline the process of servicing the group's financing obligations and significantly improve a range of important credit metrics. Shashi Kiran Shetty holds 62.08% of the paid-up capital of the company, and Talentos Entertainment Pvt Ltd and Avashya Holdings Pvt Ltd do not hold any shares. The aggregate shareholding of the promoter group (including the acquirers) is about 70.01% of the paid-up capital of the company.