Delisting of Allcargo Logistics - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Allcargo Logistics Ltd board approves delisting proposal and set floor price at ₹92.58, which is 18.8% discount to its current market price of ₹114.15.Promoter and promoter group of the company will acquire all the fully paid-up equity shares of the company having a face value of ₹2 held by the public shareholders of the Company. As per the last filling, the public holds 29.99% of paid-up equity share capital of the company. Delisting will be a positive development for the Company but the proposed delisting prices is not upto expectation of public shareholders."

Shares of ALLCARGO LOGISTICS LTD. was last trading in BSE at Rs.114.4 as compared to the previous close of Rs. 119. The total number of shares traded during the day was 36220 in over 905 trades.

The stock hit an intraday high of Rs. 118.6 and intraday low of 113.55. The net turnover during the day was Rs. 4159826.

Source : Equity Bulls

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