Gateway Distriparks Ends At Rs 75 On Relisting, Valuation At Rs 3,730 Cr
The Street was expecting the stock to list above Rs 90-close to the adjusted price pre-amalgamation
Topics
Gateway Distriparks | shares
BS Reporter |
Shares of logistics firm Gateway Distriparks, which relisted on Tuesday following a scheme of amalgamation, finished at Rs 75, valuing the company at Rs 3,730 crore.
The Street was expecting the stock to list above Rs 90–close to the adjusted price pre-amalgamation.
Following the scheme of amalgamation two of its subsidiaries-- Gateway East India and Gateway Rail Freight have ceased to exist.
The reorganisation was done to bring in greater operational synergies, improve cash flows and reduce costs. Philip Capital in a recent note had issued a price target of Rs 111 for the stock.
Gateway Distriparks is India’s leading private sector rail and Container Freight Station (CFS) operator.
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First Published: Tue, March 22 2022. 18:07 IST
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