Allcargo Logistics is trading higher by 3% to Rs 268, extending its previous day’s 10% rally, after the overseas investor has bought nearly 2 per centage points stake in the company for Rs 61 crore though open market.
Allcargo Global Logistics, the Mumbai-based Rs 2500 crore end-to-end logistics provider, has chalked out Rs 40 crore investment plan to expand warehousing capacity from the existing 3,00,000 sq feet to one million sq feet in the next three years.
Allcargo Global Logistics today said its subsidiary has acquired the controlling stake in Hong Kong based companies for an undisclosed sum in order to expand its non-vessel owning common carrier (NVOCC) business.
Private Equity backed Allcargo Global Logistics (AGL), a Mumbai based logistics firm, on Friday raised nearly Rs 100 crore through qualified institutional placement (QIP). The QIP proceeds will be used for acquisition in US and India, informed sources.