The proposal will be made to the company’s board on August 27, the company said in a filing to the exchanges.
“In the Delisting Proposal Letter, Shashi Kiran Shetty and TEPL expressed their intention to, either individually/ collectively or together with other members of the Promoter Group, as the case may be, a.acquire all the fully paid-up equity shares of the Company, each equity share having a face value of INR 2/-…”
“As of the date, the members of the Promoter Group collectively hold 17,20,22,209 Equity Shares aggregating to 70.01% of the paid-up equity share capital of the Company. The Public Shareholders hold 7,36,73,315 Equity Shares aggregating to 29.99% of the paid-up equity share capital of the Company,” the letter said.
Allcargo shares closed at Rs 109 on Tuesday, up 1.25% from the previous day’s close.