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MUMBAI :
The promoters of Allcargo Logistics have proposed to delist the corporate’s shares from inventory exchanges as a part of efforts to trim the excellent debt.
Shashi Kiran Shetty and Talentos Entertainment, the promoters of India’s largest cargo firm, have proposed to purchase out 29.99% stake held by public shareholders, which quantities to about 7.37 crore shares.
The promoter group entities maintain almost 70.01% stake within the firm or almost 17.2 crore shares every with a face worth of Rs2, the corporate mentioned in regulatory filings at inventory exchanges.
The firm’s board of administrators is scheduled to meet on August 27 to consider the proposal. At 10:45 am, Allcargo Logistics inventory was locked in 20% higher circuit at Rs130.80.
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