Allcargo Terminals Limited — Important, 17-01-2025: Agreements

The Board of Allcargo Terminals Limited has approved a preferential issue of equity shares to acquire a 15% stake in Speedy Multimodes Limited (SML) from Mr. Ashish Chandna, the CEO. This transaction will be executed through a share swap, where the company will issue 63,64,800 equity shares at an issue price of INR 42.4 per share, in exchange for 40,80,000 shares of SML, valued at INR 66.3 per share. Following the completion of this acquisition, SML will become a wholly owned subsidiary of Allcargo. The acquisition aims to enhance operational efficiency and improve regulatory and procedural efficiencies. The transaction is expected to close within 15 days after the approval of a special resolution for the preferential issue. SML has reported revenues of INR 23,550.32 Cr for FY 2023-24 and has been an integral player in the logistics services sector, focusing on container freight stations and import/export handling.