Allcargo Gati secures ₹169.28 crores through Qualified Institutional Placement.
Allcargo Gati has successfully raised ₹169.28 crores through a Qualified Institutional Placement (QIP). The funds were raised by issuing equity shares at ₹101 per share, following approval from the Fund Raise Committee of the Board of Directors on June 28, 2024. The QIP garnered significant interest from various qualified institutional buyers, highlighting strong investor confidence in Allcargo Gati’s business strategy and market position.
Pirojshaw (Phil) Sarkari, MD & CEO of Gati Express and Supply Chain (GESCPL), expressed satisfaction with the response to the QIP, emphasising its role in bolstering financial stability and supporting growth initiatives. He outlined plans to allocate the proceeds towards technology advancements, infrastructure enhancement, and debt reduction, aiming to propel the company into a new phase of growth focused on digital innovation and superior customer experience.
Positioned within the Allcargo Group, Allcargo Gati remains committed to delivering stakeholder value and driving sustainable growth in the logistics sector, leveraging its established legacy and leadership for long-term success.
