Allcargo Global (AGL) on Friday commenced trading on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) following its demerger from Allcargo Logistics Limited, marking the completion of the logistics group's four-year corporate restructuring.
The demerger has resulted in the Allcargo Group operating through four separately listed companies, with Allcargo Global housing the international supply chain business, Allcargo Logistics focusing on domestic logistics, Allcargo Terminals managing container freight stations and inland container depots, and TransIndia Real Estate developing logistics and real estate assets.
Under the National Company Law Tribunal (NCLT)-approved scheme of arrangement, shareholders of Allcargo Logistics received one equity share of Allcargo Global for every equity share held in the parent company.
Shashi Kiran Shetty, Founder and Chairman of Allcargo Group, said the restructuring was aimed at creating independently managed businesses with sharper strategic focus. He said Allcargo Global would continue to strengthen its international supply chain operations across less-than-container-load (LCL) consolidation, full-container-load (FCL) services, air freight and door-to-door logistics.
Adarsh Hegde, Managing Director of Allcargo Global, said the separate listing would provide the company with greater operational flexibility to pursue growth opportunities in international logistics while expanding its technology-led supply chain solutions globally.
According to the company, Allcargo Global's wholly owned subsidiary, ECU Worldwide, is the world's largest less-than-container-load (LCL) consolidator and operates through a network of offices and warehouses across markets accounting for more than 90 per cent of global trade. The company also offers digital freight booking through its ECU360 platform.
The listing completes the Allcargo Group's restructuring exercise, under which its international logistics, domestic logistics, terminal operations and logistics infrastructure businesses now operate as independent listed entities with separate management teams and boards. |
